How are you playing the downtrend in the JPY/USD?
The dollar-yen on the daily chart shows what we’ve known for some time: The USD/JPY is in a downtrend as the yen strengthens against the dollar. So what’s the play here?
First, as long as the trend is down I’m looking for a short off a ceiling. The short would be set up by a bounce in the downtrend - in other words a short off short-term strength.
- Raghee
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Hi Raghee,
USD/JPY: On the basis of buying Yen at the current rates, at what level would you expect to see a USD upturn, and over what timeframe?
Regards,
Bill