Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

USD/JPY: Dips Should Be Bought

Published 04/17/2014, 05:05 AM
Updated 07/09/2023, 06:32 AM

JPY is being quiet at the moment, however we are still of the opinion that dips should be bought. As long as we can remain trading above 10135/30 there is scope for the market to have quite a large move to the topside.

We know we have to break 10225 first, but once we can clear this resistance there is no reason why we cannot trade higher with 10350 to 104 looking to entice.

At this point, cover longs. Only re-instate longs above 10410. This done we can trade higher. If we do lose 10130 there may well be pressure down to 10075/65, but again, under current market conditions we are looking to buy into weakness down to this support level.

USD/JPY Technicals

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.