Trade of the Week: USDJPY Short


T3 Live's Kurt Capra is stepping in to provide the latest trade idea of the week. 

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The Trade Idea:


Entry Area: 101.80

Stop Price: 104.00

Target Area: 97.00-98.00

Why I Like USDJPY Short   

USDJPY has been in a downtrend on the daily chart for quite some time. Last month, it rallied and subsequently fell back to the prior low.

Recently, it has been consolidating within a range. It is now at the top of the range where we'll look for sellers to reemerge.