Forex $1 MM Challenge – Trade #13 (5-30-19) Sold TRY/JPY

The lira was down as much as 14% this year and the lira has suffered instability since mid-March. Plunging reserves and a lack of economic policy tightening are contributing to the uncertainty in Turkey. The US-China trade war has the potential to decelerate the global economy, and so investors are rushing into the safe haven Japanese Yen.

Monthly Chart (Curve Time Frame) – monthly supply is 24.000 with no monthly demand.

Weekly Chart (Trend Time Frame) – the trend is down.

Daily Chart (Entry Time Frame) – the chart suggests to go short at the daily supply at 18.700 with a target at 16.000.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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