Looking to see some yen strength as the usdjpy rally possibly fades off this week.
if so should see yen appreciate across the board
also noting that the dollar also exerted selling pressure on the eurusd currency so the small rally into a key level on eurjpy has presented a nice short opp.
key fib level confluence with resistance zone and a pin bar/shooting star rejection off the zone/level
3 targets marked out although judging by usdjpy i do not see any yen pairs reaching for the brexit reaction lows yet.
Target 1 would be a range fill target and more feasible in my opinion
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gdf_fx
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This was a pretty easy long to spot yesterday during the uk bank holiday. once resistance broke across all the yen pairs.
Also looking at COT data my yen bias is quite heavily short for the meanwhile now. I still prefer USDJPY longs over EURJPY as we see bearishness on the EURUSD pair but the yen is showing weakness across the board
Also looking at COT data my yen bias is quite heavily short for the meanwhile now. I still prefer USDJPY longs over EURJPY as we see bearishness on the EURUSD pair but the yen is showing weakness across the board