In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we take a close look at potential JPY strength due to tariffs on Chinese goods.
Donald Trump graced us with his unconventional style of governance via the pathway of his own Twitter account. As a result, the markets have reacted with a high degree of uncertainty. However, the fact remains that further negative sentiment about trade tariffs is likely to prove very disruptive for the markets and may lead to a ‘flight to safety’. If this happens we may see significant strength in the JPY, at least in the short-term.
With this in mind, we have selected the EURJPY because of the technical setup and structural break to the downside. This gives us a higher probability trade setup to begin to focus on. If we see prices break below yesterday’s low of 123.12 then we will be looking for opportunities to trade this market to the downside.
Potential JPY Strength Due to Tariffs on Chinese Goods – Full Video Analysis
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