Trading Outlook – USD/JPY
Originally updated: 06:10am
Currency Pair: USD/JPY
In today’s trade set up we will be focussing on short term buying opportunities on the USD/JPY.
The USDJPY continued it’s one way move on speculation Prime Minister Shinzo Abe is likely to call a snap election in December with the government looking to delay the planned sales-tax hike until early next year to avoid damaging a fragile economic recovery.
We have a nice confluence zone at 114.80-114.70. This should offer short term support for any pullback.
Stop loss could be placed at 114.30
Take profit target: 115.50
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