The USDX continued to stall near recent highs and the sentiment was “risk off” today. Even the EUR and GBP were able to climb versus the USD.
The USDJPY moved to its Asian session low and oscillated just above and below this level going into the U.S. session overlap. After it failed to make a new high for the London session, a short was taken risking 7 pips for a potential 27 pip to our daily target at 108.36
Price moved down gradually to and through our target level. We closed the trade as it began to reverse going into the London close.
The 1.1000 level is still supportive for the EURUSD. Fading the current up move is of interest targeting another test of the 1.1000 level if we see some USD strength tomorrow.
Good luck with your trading!
