Playing for the break and the round number on USDJPY

yen has been in a strong downtrend

USDJPY has been in a strong downtrend. Will the round number support?

The USDJPY has been in a strong downtrend for most of the year. The Bank Of Japan (BOJ) have increased stimulus this month on a backdrop of economic uncertainty and this has weighed on this pair.

The USDJPY is consolidating and may provide trading opportunites

Consolidating for now.. NFP may make USDJPY move

Now, this pair is consolidating in a channel and tomorrows Non-Farm Payroll (NFP) announcement at 12.30 GMT may provide trading opportunities on a break out. The figure expected is 175K for NFP and any deviations from this may surprise the market and get this pair moving.

We are trading close to the round number 100 which has provided recent support. Any break downs may meet some buying support at this level again.

No Risk with SparkProfit

Whatever direction you think the markets are going to go, you can learn to trade at no risk here at SparkProfit. You can even earn weekly cash rewards.

Please note our disclaimer on all of this.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s