USD/JPY expected to head lower from these levels
Updated
With the 25 EMA is almost crossing the 50 EMA and USD/JPY at an area of RESISTANCE, this pair looks to be headed lower.
There's no a great deal of momentum in the market so this could be a slow burner.
There's no significant USD scheduled news until Thursday so there's no reason to see USD BULLS entering the market.
Most logical area of SUPPORT comes in at the 200 day EMA at 143.30 so if the price makes it down there then we would have to see whether this level supports or whether we're headed to 141.69 (WS1) over the next few days.
There's no a great deal of momentum in the market so this could be a slow burner.
There's no significant USD scheduled news until Thursday so there's no reason to see USD BULLS entering the market.
Most logical area of SUPPORT comes in at the 200 day EMA at 143.30 so if the price makes it down there then we would have to see whether this level supports or whether we're headed to 141.69 (WS1) over the next few days.
Trade active
Sliding my stop on this trade up to 144.98 as USDJPY is edging higherTrade active
STOP moved to 144.15 locking in 30 pipsTrade active
STOP moved to 143.92 locking in 52 pipsTrade closed: stop reached
Closed at 143.83 (52 pips)Signs that USD is finding support at WWP (weekly mid pivot level).
Current candle is forming a pinbar at support so this trade is over
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