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Usdjpy-intraday

UJ Short 106UJ short upside limited given recent fundamentals. Supported by DXY reaching 98 and showing signs of a rejection on 4hr TF. "Despite the renewed strength, the growing recession fears, as signaled by the US 2-year-10-year Treasury yield curve inversion will continue to keep the bulls on the edge. Therefore, any upside in the pair is likely to be short-lived, as the demand for the safe-haven Yen is likely to remain underpinned amid market panic and unrest" Confluences: CS , Fib, 106 Psycho zone and DXY rejection off 98 level. To look out for: The US Retail Sales data release! DXY:
Short
by Ajish_A
USDJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=113.05. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=113.5. TP4: R2=113.7. Set the stoploss of these orders at breakout of S2=112.95. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=112.95. In this situation, there is an expectation to reach the target S3=112.4. Set the stoploss of reverse orders at breakout of S1=113.05. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you! ALL OF OUR INTRADAY FORECASTS ARE VALID FOR 24 HOURS FROM RELEASE TIME.
Long
by ForecastCity
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