USDJPY Short

USDJPY was very choppy last week but always look at the bigger picture. On a weekly timeframe, we are well within a downtrend. On a closer look on the Daily timeframe, we can see that the larger downtrend was respected even with a hawkish Fed raising rates and signaling an additional rate raise for this year. With $50 billion in tariffs on China announced by Trump, it seems we are on the way to a trade war. India has named tariffs on 20 American products and China is set to announce retaliatory tariffs on American products set to take effect on July 1st.

This trade is support both technically and fundamentally so I believe that any minor rallies are good selling opportunities.