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USD/JPY Signal - USD Consumer Price Index - 14 Jul 2020

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Signal Details
Entry Price: 
107.187
Take Profit: 
107.600
Stop Loss: 
107.100
Direction: 
Buy
Result: 
Loss
How we trade
Average: 5 (1 vote)

USD/JPY is currently trading around 107.18 prior to the USD CPI data. Consumer Price Index data gives a measure of price increases on a representative basket of goods and services and is a medium impact economic event, with a higher reading typically bullish for the USD and a lower reading being bearish. We anticipate continued upside on USDJPY into the 107.6 level. Technically price is trading with 107.1 and the 1hr 50ema as support.

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.