USD/JPY: Bearish; A Pullback Towards 109.80 Would Offer ‘Perfect’ Selling Opportunity – ING

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Dollar/yen dropped as part of the greenback sell-off that followed the dovish twist from the Fed. What’s next?

Here is their view, courtesy of eFXdata:

ING discusses USD/JPY technical outlook and maintains a bearish bias on a multi-day basis, and flags the 109.80 as an attractive entry to sell on rallies.

“A pull-back towards the former breakout level around 109.80 would offer a perfect selling opportunity in expecting the development of a lower top followed by the next correction.

We recommend selling the rallies within this rally and waiting for the next bearish set-up,” ING adds.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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