USDJPY currently in under pressure, but on bigger picture my bias remains bullish for mid-term and intraday outlook. The price has pulled back into the confluence zone. On H4 chart, the price is also seen moving between 20 MA and 50 MA and stochastic has confirmed bullish signal.

I plan to go long on USDJPY on bullish signal confirmation within the confluence zone at 113.132-113.319 with 113.435 as target or 113.622 in extension.

However, be careful if the market managed to break below 113.132 because it will turn the bias to bearish and possibly will push USDJPY down to 113.016-112.829.

Plan: Buy on bullish setup confirmation within 113.132-113.319; target at 113.435 or 113.622


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