On H4 chart we can see that 20 MA and 50 MA are still falling. On the hourly chart, the price has pulled back to within the resistance area at 109.269-109.687.

My plan is to go short on USDJPY bearish signal confirmation within the intraday resistance area with 109.011 as target and 108.594 in extension.

Be careful if the market managed to break above 109.687 once again because it will turn the bias to bullish and possibly will push USDJPY up to 109.945-110.362.

Plan: Sell on bearish setup confirmation within 109.269-109.687; target at 109.011 or 108.594


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