Wednesday, February 25, 2015

Trade Idea: USD/JPY - Sell at 119.50

Dollar's recovery after falling to 118.63 yesterday suggests consolidation would be seen and corrective bounce to the upper Kumo (now at 119.24) cannot be ruled out, however, reckon upside would be limited to 119.50 and this week's high at 119.84 should remain intact, bring another decline. A break of 118.63 would extend weakness to 118.50



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