On H4 chart we can see that 20 MA and 50 MA has confirmed death cross as well as on hourly chart. The price has pulled back into resistance area at 112.567-112.913. Hourly stochastic has crossed down. Based on those facts, I prefer short on USDJPY with 112.258 as target and 111.949 in extension.

Be careful if the market managed to break above 113.068 because it will turn the bias to bullish and possibly will push USDJPY up to 113.260-113.569.

Plan: Sell on bearish setup confirmation within 112.567-112.913; target at 112.258 or 111.949


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