With the French elections likely to lean towards support of the Euro we might have an opportunity to short USDJPY. With money flowing out the Dollar to the Euro there could be a substantial drop in the Dollar. The Daily chart shows USDJPY at a resistance level. Look for bearish pin bars and evidence of pricing being rejected below 113.000 on lower time frames.

Resistance around 113.000.

2 thoughts on “USDJPY Short Potential”

  1. dima pekurovsky says:

    Strengthening in JPY would be helpfull for this plan.Hope they will have positive effect from EURO.
    Good luck with your plan!!!

  2. Nick T says:

    Thanks Dima. I have not entered short yet. I’m waiting for more bearish candles to show.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.