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Lambert: Why I am selling USDJPY

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December 11, 2015 clive, clive lambert, currencies, currency, dollar, double, double top, forex, futurestech, fx, idea, japanese yen, jpy, lambert, levels, pair, saxo bank, saxo bank tradingfloor.com, saxo tv, saxo tv trading floor, saxo tv tradingfloor.com, saxotrader, saxotradergo, saxotv, sel, sell, signal, support, target, top, trade, trade idea, trade view, trader, traders, traders tale, trading, tradingfloor, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com saxo tv, us dollar, usd, usdjpy, view, yen
Clive Lambert believes it is time to sell USDJPY after the pair on Wednesday broke a key support level.

Lambert says that a sell signal known as a double top appeared after dollar/yen broke below 122.20 and dropped down to 121.07. The pair has since recovered, but with the market retesting the broken support at 122.20, Lambert sees an opportunity to sell. He is looking to sell at 122.20 with a stop at 122.50 and his target for the trade is 121.07