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USD/JPY Signal - JPY Leading Economic Index - 6 Aug 2021

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Signal Details
Entry Price: 
109.760
Take Profit: 
108.890
Stop Loss: 
110.420
Direction: 
Sell
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Average: 5 (1 vote)

USDJPY has traded into resistance in the fibonacci golden pocket prior to the JPY Leading Economic Index data, which is an economic indicator that consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. Technically the pair is in a downtrend, below the trendline, and has traded into the fib golden pocket. We anticipate continued downside from here into the 108.890 level.

Submitted by Toni H. on Fri, 06 Aug 2021 00:02:27 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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