USDJPY Short Opportunity
Updated
Ladies and Gents,
As we get closer to Non Farm Payrolls later today we can see a high correlation between all Japanese pairs. Being very top heavy and Dollar Index at its highs, we could potentially see a fall from this region on USDJPY. I personally have entered a position in this high liquidity area between 111.700 and 111.600. Downside targets I see around 110.850 for now but we may continue lower depending on the data being released. Stops just above the highs.
As we get closer to Non Farm Payrolls later today we can see a high correlation between all Japanese pairs. Being very top heavy and Dollar Index at its highs, we could potentially see a fall from this region on USDJPY. I personally have entered a position in this high liquidity area between 111.700 and 111.600. Downside targets I see around 110.850 for now but we may continue lower depending on the data being released. Stops just above the highs.
Trade active
Got very close to my stop loss. But we are still in the trade, i accept the fact my stops are very tight. Lets see what happens.
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