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Trading outlook – USD/JPY

Posted On 15 Dec 2014
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Originally updated: 07:15am

Current Price: 118.35

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:

We are keen to look for cautious buying opportunities on the USD/JPY after PM Abe won the Japanese elections over the weekend. It must be noted that there has been a risk averse environment about as we saw the S&P and DJIA collapse on Friday.

Technicals:

I expect this pair to continue its up move during the session, eventually hitting 119.30. If the market does retrace back down 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 117.65-117.45

Stop loss could be placed at 117.15

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Source:: Trading outlook – USD/JPY

About the Author
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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