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Coleman: Selling USDJPY as Russia intervenes
Geopolitical tensions in the Ukraine have created a large gap on the Asian open as the yen slipped. Ian Coleman from First 4 Trading is looking to sell USDJPY as weakness continues.
The presence of Russian military forces in the Crimea region previously created a risk-off trade on Monday. Overnight though, Russian President Vladimir Putin ordered Russian forces be removed from the border of Ukraine; reversing the call to a risk-on trade.
Ian expects that bears will continue to dominate the market on Tuesday as he looks to sell at the market open price of USD 101.76 and any further rallies up to USD 102.
His targets are set at USD 101.20 and USD 100.70 with a stop placed at USD 102.30.
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01:20 minutes
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