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USD/JPY Signal - USD Housing Price Index - 25 May 2021

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Signal Details
Entry Price: 
108.710
Take Profit: 
108.120
Stop Loss: 
109.150
Direction: 
Sell
How we trade
Average: 5 (2 votes)

USDJPY is trending to the downside prior to the USD Housing Price Index, Which shows the change in the housing prices domestically. This is a key economic indicator. Technically the pair is forming a wedge pattern and looks set to drive through support. The PPO is also indicating potential downside, and we anticipate this to continue into the 161% fibonacci extension level at 108.120.

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Submitted by Toni H. on Tue, 25 May 2021 02:31:23 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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