HotForex - Analytics

    HotForex

    485.50 8.50/10
    61% of positive reviews
    Real

    BRAND MARKET ANALYSIS AND NEWS USDJPY update Market News

    USDJPY, Daily

    The outflow of funds from China and into safe haven currencies like the JPY has helped to strengthen the Japanese Yen in recent weeks. However, JPY traders may now be beginning to shift attention to market speculation that the Bank of Japan may be potentially seeking further stimulus measures that may add some weakness to the JPY.

    Technically, a fibonacci retracement (December High 123.55 – January 20th low 115.90) trade could be in play for projected targets at 119.70 and 120.70. My strategy for short term traders is as long as price can stay above the 118.00 support line to hold long positions for the above fibonacci retracement targets 119.70 (Target 1) and 120.70 (Target 2).

     

    Jan 28 USDJPY SRL

    Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! The next webinar will start in:

    John Knobel 

    Senior Currency Strategist

    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

     


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree