Long USD/JPY | Trade of the week

This week, we're going long USD/JPY, as the uptrend that has been in place for most of 2024 remains intact following the BoJ intervention selloff in late July and early August. With the interest rate gap between the US and Japan expected to persist, the carry trade case for a higher USD/JPY remains strong. We're buying at ¥159.19 with a stop below last week's low at ¥158.00 and an upside target at ¥162.40. Last week's long Bitcoin trade is being closed at around $77,360, well above the original $69,100 target, for a strong profit. The move higher continued well beyond the 200-day moving average, a reminder that targets are a guide rather than a reason to exit early. 👉 In this video: ✅ Why we're going long USD/JPY ✅ The carry trade case for further upside ✅ Closing the Bitcoin long for a strong profit #Trading #USDJPY #Forex #TechnicalAnalysis #Markets #TradeOfTheWeek Trade of the Week Playlist: ►https://www.youtube.com/playlist?list=PLiuPElZAFyTJFfLuMPPt1SvCt8gJEpNs7 📈 Catch more market commentary and insights on our channel. 🔔 Subscribe ► https://www.youtube.com/@iguk_official?sub_confirmation=1 Find out more: https://upl.inc/k4gg8x Your capital is at risk. 69% of retail investors lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.