USDJPY Daily Technical Trading Strategy; December 5, 2017

USDJPY has pulled back into today’s confluence zone. On the H4 chart, we can see that golden cross has been confirmed by 20 MA and 50 MA and the price has pulled back to the area between 20 MA and 50 MA. Intraday bias remains bullish, as well as the mid-term bias. My plan today is long on USDJPY on bullish signal confirmation within the confluence zone at 112.436-112.040 with 112.682 as target or 113.078 in extension.

Be careful if the market managed to break below 112.040 because it will turn the bias to bullish and possibly will push USDJPY down to 111.794-111.398.

Plan: Buy on bullish setup confirmation within 112.436-112.040; target at 112.682 or 113.078

USDJPY-5-December-2017

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