Shanghai Index is down (-3.2%) and Nikkei is down (-1.5%) today.  Thus so far, it looks like RISK-OFF day.

Looking at the Daily chart, USDJPY has been rejected by 21EMA.


Thus I still want to wait for the Short opportunities with USDJPY.


Looking at the Hourly chart (above), there are supports at 120.20 & 119.60.   I would like to wait for the breakout strategies for both areas.

If the breakout doesn’t occur, I wouldn’t trade this pair today.


YJ Baik – Forex.Today @ Tokyo





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