USDJPY currently is moving within the support area at 108.443-108.921 which becomes our confluence zone for today. My plan is long on USDJPY today on bullish signal confirmation within the confluence zone, with 109.217 as target or 109.696 in extension.

However, note that the price currently is moving below 20 MA and 50 MA on hourly and H4 chart. A death cross has crossed down on H1 and H4 chart. Therefore, be careful if the market managed to break below 108.443 because it will turn the bias to bearish and possibly will push USDJPY down to 107.965-107.429.

Plan: Long on bullish signal confirmation within 108.443-108.921; target at 109.217 or 109.696

USDJPY-8-February-2018

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