Forecast – BEARISH

Date Posted:       6 Jan 2020

Currency Pair:     USDJPY

Current Trend:    DOWN

Forecast Move:    DOWN

Key Tech Level:    108.40

Potential Opportunity

Trade Action:   SELL RALLIES

Stop Loss           108.53        -25 pips

Entry                  108.28

Take Profit        107.03       +125 pips

Chart & Forecast Details

The recent US – Iran tussle has USDJPY well and truly on the back foot with the “Buy YEN” safe-haven trade in play. It’s broken down through both Hourly and Daily support levels and should be a pretty safe trade to sell on rallies back towards resistance at 108.40.

Key Trade Day: Friday 10th Jan – US NFP Employment Change

Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

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