How to Trade JPY Weakness With Minimum Intervention Risk
Fundamentals & Sentiment
JPN225:
- Final data showed that business activity in Japan turned contractionary in June for the first time since November. Technology stocks led the advance, triggering the index to pop higher. The tech sector is the third by weight in Nikkei (~15%).
USD:
- The Fed is still in "wait and see" mode
- Recent US data has been weak (except JOLTS)
JPY
- Continuous JPY depreciation propels Japanese stocks
Technical & Other
Setup: S(B)
Setup timeframe: D
Trigger: 4h
Medium-term: Up
Long-term: Sideways
Min target: Mar high/ the end of the first breakout leg after Mar high
Risk: 1.19%
JPN225:
- Final data showed that business activity in Japan turned contractionary in June for the first time since November. Technology stocks led the advance, triggering the index to pop higher. The tech sector is the third by weight in Nikkei (~15%).
USD:
- The Fed is still in "wait and see" mode
- Recent US data has been weak (except JOLTS)
JPY
- Continuous JPY depreciation propels Japanese stocks
Technical & Other
Setup: S(B)
Setup timeframe: D
Trigger: 4h
Medium-term: Up
Long-term: Sideways
Min target: Mar high/ the end of the first breakout leg after Mar high
Risk: 1.19%
Nota
Entry: 39709Trade chiuso manualmente
Decided to take profits as the index showed some strong price action signs at the supply area that the move is due for correction. The move had a good run and some pullback makes sense. I'd look into reentering if it holds and breaks above the resistance.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.