Trading Outlook – USD/JPY

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Originally updated: 06:45am

Currency Pair: USD/JPY

Sentiment: Bullish

Market focus:

In today’s trade set up we will be focussing on short term buying opportunities on the USD/JPY.

Fundamentals:

The Yen weakened after Japanese CPI numbers dropped to a 13 month low showing inflation slowed helping to push the USD/JPY above the 118.00 handle.

Technicals:

I expect this pair to continue its up move during the session and eventually hit 118.45 or higher.

If it does retrace back down first then there is a nice confluence zone of support that traders could use as a reference to buy from again.

The confluence zone is at 116.90-116.80

Stop loss could be placed at 116.35

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Source:: Trading Outlook – USD/JPY

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]

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