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Faraday: Is now the time to short USDJPY?

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January 11, 2016 2016, alex, bank, capital, china, chinese, currencies, currency, data, dollar, faraday, forex, fx, group, idea, japanese, job, jobs, joyner, jpy, market, markets, nfps, nonfarm, nonfarmpayrolls, pair, pairs, payroll, payrolls, report, research, risk, risks, saxo, saxobank.com, saxotrader, saxotradergo, saxotv, selling, short, shorting, stop, strategies, strategy, target, trade, trader, traders, trades, trading, tradingfloor, tradingfloor.com, tradingfloorcom, turmoil, tv, us, usd, usdjpy, view, views, yen
The dollar has moved higher against the yen after Friday’s very strong US jobs report, but Alex Joyner from Faraday Research still believes now could be the time to short the pair. Here’s why.

Looking at the daily chart, Joyner says a recent sell-off in USDJPY still has plenty of strong downwards momentum. He believes that the ongoing problems in China will see demand for the Yen increase once again.