USD/JPY: above 110.000

Updated

Hi Guys,

the pair crossed the SMA which technically provides a bearish bias.

However please look at what happen on Jan 27 when it crossed the SMA. That week it didn't fall immediately on Monday. It found support before diving on Wednesday.

Now timing is different. It's Wednseday and DXY has been weakening since the beginning of the week.

Strategy: wait and see
On Thursday US GDP data Q4 will be released which may strenghten USD if above expectations.

Thank you for your support and for sharing your ideas.

Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. CozzamaraDaZena is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.

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Here you can find the chart showing DXY falling on Tuesday. You have to click & play the chart if you want to see the move unfold.

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CozzamaraDaZena

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