#tradeoftheweek Here are two notable "Trade of the Week" ideas from leading market analysts for the week of May 6, 2025:
š IG UK: Short USD/JPY
Analyst: Axel Rudolph, Senior Technical Analyst at IG UK
Trade Idea: Initiate a short position on USD/JPY around Ā„144.00.
Target: Ā„138.00
Stop Loss: Above Ā„146.00
Rationale:
Rudolph observes that the USD/JPY pair is resuming its medium-term downtrend. He identifies an Elliott Wave ABC correction pattern, suggesting a continuation of the bearish trend. The pair has broken below key support levels, indicating potential further declines. The strategy involves shorting the pair at current levels with a stop loss above recent highs,