USDJPY Weekly Analysis - Potential Short Opportunity
We successfully spotted the potential downtrend in USDJPY 1-Day and 1-Hour Chart.
1-Day Chart
1-Hour Chart
This is mainly due to the weaker US Dollar Index as we can see in 1-Day Chart.
Based on the chart, the potential entry price is 112.400. If the trend breaks upward, we shall set the Stop Loss at 114.380 (~200 pips).
If the trend cannot break upward and retrace, we shall set the Take Profit at 110.850 (TP1 ~155 pips) and then 109.730 (~267 pips).
The potential Reward/Risk ratio is 1.36
Please also take note on the following events that might affect the trend in a short term period and producing some volatility.
17 APR 2019 - OPEC Meeting
18 APR 2019 - Core Retail Sales m/m
18 APR 2019 - Unemployment Claims
19 APR 2019 - Good Friday Public Holiday
We successfully spotted the potential downtrend in USDJPY 1-Day and 1-Hour Chart.
1-Day Chart
This is mainly due to the weaker US Dollar Index as we can see in 1-Day Chart.
Based on the chart, the potential entry price is 112.400. If the trend breaks upward, we shall set the Stop Loss at 114.380 (~200 pips).
If the trend cannot break upward and retrace, we shall set the Take Profit at 110.850 (TP1 ~155 pips) and then 109.730 (~267 pips).
The potential Reward/Risk ratio is 1.36
Please also take note on the following events that might affect the trend in a short term period and producing some volatility.
17 APR 2019 - OPEC Meeting
18 APR 2019 - Core Retail Sales m/m
18 APR 2019 - Unemployment Claims
19 APR 2019 - Good Friday Public Holiday