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USD/JPY Signal - USD CPI - 11 Aug 2021

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Signal Details
Entry Price: 
110.646
Take Profit: 
110.150
Stop Loss: 
111.000
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDJPY is trading in a rising wedge pattern prior to the USD CPI data, which measures the change in price of a representative basket of goods and services and is used to measure inflation, which has been a growing concern to the US economy. Technically the pair is in a rising wedge pattern (bearish) and has approached resistance. The RSI has also generated sell signals, and we anticipate downside into 110.150.

Submitted by Toni H. on Wed, 11 Aug 2021 04:00:24 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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