USD/JPY: Stay bearish but wait for right level

Massive break lower in USD/JPY was well telegraphed on the charts and it looks like there is more to come. The short-term range is between 116.50/119.50 and I favour playing the edges of this with a bearish bias.

Medium-term top pickers will undoubtedly start booking their 800/1000 pips near 115 so I would be careful about being overly short as we approach that level.

The post USD/JPY: Stay bearish but wait for right levels appeared first on www.forextell.com.

Leave a Reply