On H4 chart we can see that 20 MA and 50 MA are still falling as well as on the hourly chart. The price has pulled back into resistance area at 110.957-111.341. Hourly has crossed down, so I plan is to go short on USDJPY within the resistance area with 110.614 as target and 110.271 in extension.

Be careful if the market managed to break above 111.513 because it will turn the bias to bullish and possibly will push USDJPY up to 111.725-112.068.

Plan: Sell on bearish setup confirmation within 110.957-111.341; target at 110.614 or 110.271


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