USDJPY currently is under pressure, my bias is bearish for mid-term and intraday outlook. On H4 chart, the price is also seen moving below 20 MA and 50 MA but note that stochastic is oversold.

I plan to go short on USDJPY on bullish signal confirmation within the confluence zone at 112.821-113.008 with 112.653 as target or 112.485 in extension.

However, be careful if the market managed to break above 113.092 because it will turn the bias to bullish and possibly will push USDJPY up to 113.196-113.364.

Plan: Sell on bearish setup confirmation within 112.821-113.008; target at 112.653 or 112.485


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