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Stay the course on USDJPY

Stay the course on USDJPY

David Rodriguez, Head of Product

Our USDJPY-long idea from last week only triggered half of the position as the pair didn't pull back, but so far it seems wise to stay the course as it trades towards ¥125.

At the time we set risk on the position below ¥122, and though tempting to trail the stop it doesn't seem as though we have significant support until then. Targets start at ¥125 at which point we might trail the stop higher, but realistically the first point at which we'd take partial profits would be ¥125.75.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.