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Why I am buying USDJPY: Coleman

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March 10, 2016 foreign exchange, forex, forex idea, forex market, forex markets, forex trading, fx, fx crosses, fx forex, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trading, fx volatility, japan, japan economy, japanese, japanese economy, japanese government, japanese yen, jpy, jpy crosses, saxo, saxo bank, saxo tv, saxotv, trading, tradingfloor, tradingfloor.com, usd, usd index, usdjpy, usdjpy currency, usdjpy trading
The US Dollar Index has been mixed for the last thirteen days, notes Ian Coleman from First4Trading, causing some volatility in the FX majors.

Coleman explains why he is looking to buy USDJPY. He believes that the medium term bias for USDJPY is still mildly bearish because the move higher is mixed and volatile. 

Ian is looking to buy at the market and 113.55. He has put a stop at 113.25 and two targets of 114.35 and 114.60.