What’s the Best Level to Buy the Yen?
Rowan Crosby•Friday, November 10, 2017•1 min read
The USD really fell off the rails in trade yesterday and that has dragged down the USD/JPY. However overall I’m still quite bullish on the USD and Yen so this might be a good opportunity for us.
The Yen loves round numbers and I like to try and work entries and exits near those points. Today I’m watching the 113.00. I think however I would prefer to find an entry slightly above that level at 113.10.
That around the lows of earlier and that means there is a chance we will test that once again. This is for a longer term move back up to resistance at 114.50 so we can give this trade a little bit more room to move.
USD/JPY – 240 min Chart.
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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