USD/JPY started November with bulls

Current trend: Uptrend prevailed then, sideline moves

Recommended position: Sell

  • Buy zone: 104.90
  • Sell zone: 109.60

Comment: Trump is the president of the united states for the next 4 years after a long marathon against Hilary Clinton. On the election day, it was dramatic move for the USD especially in front of the Japanese yen. The pair moved from 101.18 to 105.88 in one day after the announcement. Honestly, it was not expected to see such strong move. This is opening the door to test higher resistance around 109.80. Our recommendation is to hold on, sideline moves might control the next week!

USDJPY Forecast - November 2016

This post is valid during trading week: 13th-18th November, 2016