USDJPY has been forming a pennant on H4 chart. Yesterday’s range was 119.60 – 120.50.
Today so far in Asian hours, the range is getting smaller.
For days like today, you don’t need to trade Yen pairs.
I would just observe the price actions, and wait until the price started to move either way.
My bias for USDJPY is…
Long term long, and short term short.
YJ Baik – Forex.Today @ Tokyo