T3 Live
Shares

Trade of the Week: USDJPY Short

Shares

T3 Live's Kurt Capra is stepping in to provide the latest trade idea of the week. 

 Don't Fear Forex…

 Attend my free webinar tomorrow and learn why so many stock and options traders are embracing the lucrative world of forex.

The Trade Idea:

USDJPY Short

Entry Area: 101.80

Stop Price: 104.00

Target Area: 97.00-98.00

Why I Like USDJPY Short   

USDJPY has been in a downtrend on the daily chart for quite some time. Last month, it rallied and subsequently fell back to the prior low.

Recently, it has been consolidating within a range. It is now at the top of the range where we'll look for sellers to reemerge.