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USDJPY turning bearish again: Lambert
USDJPY has been rallying for the last couple of weeks but yesterday it got close to a Fibonacci resistance at 107.60 and reversed, posting a “Bearish Engulfing Pattern”, according to Clive Lambert from FuturesTechs.co.uk. Lambert thinks it’s time to get short again, a trade that’s served him well this year.
He expects to sell USDJPY at 106.35 and add on a break below 105.40. A stop above 106.80 to start with, and targeting 103.30 and 102.30, maybe even lows at 100.00 and 99.00.
01:21 minutes
Tags: clive lambert, forex, saxo bank, saxo tv, saxotv, trade idea, trade view, tradingfloor.com, usdjpy
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