USDJPY Short Idea

Lots of USD pairs are at questionable highs. With the market acting crazy, could we see the Dollar to crash, in my opinion I reckon it is due to - but it’s only a matter of time. With the Fed injecting ‘unlimited’ amounts of money into the market, this can only end back sooner rather than later.

Here I have marked up USDJPY. You can see that price is respecting trend quite well, and price is making it’s way back up to a supply area where price previously crashed around 1000 pips - could we see this happen again?

I’ll be looking to sell around the 112.0 area depending on price action.

Let’s wait and see. Good look and risk accordingly if you decide to enter.

Agreed. However, watch out for support around 109.6. If the market holds above this price USD/JPY will likely stay bullish a while longer. I would go short once price has gone down between 108-109

I think youre right pete

I've been reading some very mixed opinions on the forecast for the dollar. Most believe it will remain a safe haven for some time yet. I'm holding back on the shorts.

Did you notice all this day usdjpy go to sell? It was a great time for sell trade. It's a pity I noticed this too late. I think there will be a rollback soon.