USDJPY currently is moving in bearish bias. 20 MA and 50 MA are falling on hourly and H4 chart. Stochastic has crossed down on hourly chart but is crossing up on H4 chart. Another pull-back move is expected into the confluence zone.
My plan is short on USDJPY today on bearish signal confirmation on a pull-back move into the confluence zone at 107.730-108.264, with 107.400 as target or 107.040 in extension.
Be careful if the market managed to break above 108.264 because it will turn the bias to bullish and possibly will push USDJPY up to 108.468-108.798.
Plan: Short on bearish signal confirmation within 107.730-108.264; target at 107.400 or 107.040