USDJPY currently is under pressure. Note that stochastic is oversold on H1 and H4 chart, so we probably will see a pull-back move today. A death cross has been confirmed by 20 MA and 50 MA on hourly chart. My bias is bearish on USDJPY today.

My plan is short on USDJPY today on bearish signal confirmation on a pull-back move to within the confluence zone at 106.816-106.220, with 105.566 as target or 105.316 in extension.

Be careful if the market managed to break above 106.220 because it will turn the bias to bullish and possibly will push USDJPY up to 106.375-106.625.

Plan: SHORT on bearish signal confirmation within 106.816-106.220; target at 105.566 or 105.316

USDJPY-21-March-2018

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.