Raghee Horner was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick. Tune in to the daily broadcast live Monday-Friday at 8 a.m. ET here.
Simpler Forex and currency trading expert Raghee Horner discussed the USD/YEN on the show.
Horner said that understanding the USD/YEN would include an analysis of U.S. Dollar Index futures which were “bouncing along...an oversold support level on the daily” timeframe.
Horner added that the currency pair had been stuck in the middle of a narrow range and there did not appear to be opportunity while hovering at or just below the 120 level. However, Horner said that if the pair moved to 118.50, she would be a buyer at that level.
Until then there would be nothing to do in the trade. Although, she was a dollar bull and might look for “dollar buys elsewhere.”
Listen to the show here:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
