Long USDJPY

The USDJPY failure to break below 89.00(which has been a strong support level) could be an opportunity to get long the pair. The potential for a Greece bailout could spark a bout of risk appetite leading to support for the pair. I wouldn’t bet on a longer-term bullish trend, but I do see potential to 100-Day SMA at 90.20. The expected negative NFP release on Friday may limit any bullish potential beyond that. However, unexpected job growth will increase the potential for an extended move.

Trading Forex for a Living
Trading Forex Forum
Forex Manual Trading Systems
Forex Automated Trading Systems

Provided by DailyFX
Visit DailyFX.com

You may also like... No related posts