Hi traders,
A risk off environment in the previous week due to fears of the coronavirus' impact on the global economy.
The USDJPY' phenomenal run to the upside has been undone by the risk off move. We moved up on the back off the weakness in the JPY economy.
For this asset we need to be looking for some consolidation days, or pullback days before we get into a short. A pullback to 108400 would be ideal, however it could extend past this level and test the 50MA.
All the best,
Aardall
A risk off environment in the previous week due to fears of the coronavirus' impact on the global economy.
The USDJPY' phenomenal run to the upside has been undone by the risk off move. We moved up on the back off the weakness in the JPY economy.
For this asset we need to be looking for some consolidation days, or pullback days before we get into a short. A pullback to 108400 would be ideal, however it could extend past this level and test the 50MA.
All the best,
Aardall