Correction occurs on USDJPY, H1 chart, but in general it remains uptrend. The price has pulled back into intraday support area at 111.069-111.335. On H4 chart, 20 MA and 50 MA are still rising. Note that hourly stochastic is oversold both on H1 and H4 chart.

My plan is to look for bullish signal confirmation within today’s support area with 111.500 as target and 111.767 in extension.

Be careful if the market managed to break below 111.069 because it will turn the bias to bearish and possibly will push USDJPY down to 111.904-110.637.

Plan: Buy within 111.069-111.335; target at 111.500 or 111.767


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