This pair is more likely to go ranging this week, but by next week, I'm looking forward to its drop considering the increasing appeal of risk haven assets like JPY and gold recently after the news about US and China trade war. Shorting this pair with 1st TP at around 103 and 2nd TP at 100, while SL at last week's high @106.6.
cnbc.com/2018/03/26/goldman-sachs-expects-gold-to-outperform-amid-growing-fears-of-a-stock-market-correction.html
fxstreet.com/news/jpy-sell-on-rallies-theme-to-persist-ing-201803260733
finance.yahoo.com/news/usd-jpy-fundamental-weekly-forecast-020309824.html
Daily:
Weekly:
Confidence: C (might go very volatile in the coming weeks esp this pair is highly affected by geopolitical risks)
cnbc.com/2018/03/26/goldman-sachs-expects-gold-to-outperform-amid-growing-fears-of-a-stock-market-correction.html
fxstreet.com/news/jpy-sell-on-rallies-theme-to-persist-ing-201803260733
finance.yahoo.com/news/usd-jpy-fundamental-weekly-forecast-020309824.html
Daily:
Weekly:
Confidence: C (might go very volatile in the coming weeks esp this pair is highly affected by geopolitical risks)
Note
Idea also based on this:businessinsider.com.au/currency-valuations-g10-fx-forecasts-2018-3
Order cancelled
Trade didn't hit the Sell Stop @104.867 and continued to go ranging above 105, hence I'll be revising my idea.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.