Usd/jpy : trump effect close to fading

The pair is showing some weakness around 108.50¥ which is 200 week moving average and weekly resistance.

Targets of shorting the pair at that level would be 106.80¥ then 103.50¥ areas.

However it is not recommended to short the pair now until it confirms a bearish resumption

The pair might continue its rally to 110.60¥ and that level would be very good short entry for a long term trade.

My overview for the pair is bearish and targeting 83¥ on the long term.

Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

Gbp/Usd bearish below 1.2980$

The pair broke below the rising trendline in red as shown in the chart below. It is also trading below 200 hour moving average. There is horizontal resistance at 1.2980$ area followed by 1.3080$ area. Being Short is favorable with stop loss above 1.3080$. Target should be around 1.2640$ , you can book some profits at 1.2780$.

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