The Japanese Yen weakened against the US Dollar in yesterday’s trading, after the release of Non-Farm Payrolls (NFP) data which showed higher-than-expected results. The strength of the US labor data boosted the strength of the Dollar and pushed the price of USD/JPY to print a high of 145.22.
However, technically, the current price is still moving in a Sell on Correction pattern on the Intraday H1 formation. This means that the opportunity for price correction to go back down remains open, especially if the price touches the resistance area again.
Recommendation:
- Sell Near: 145.60
- Stop Loss: 144.97
- Take Profit 1: 143.90
- Take Profit 2: 143.70
*DISCLAIMER: All content in daily forex news is informative. PT. Maxco Futures does not guarantee its accuracy and completeness. The company is not responsible for investment losses due to the use of the information contained.
