USDJPY is losing momentum but remains in downtrend if we look at H4 chart. Stochastic is overbought on H4 chart and has crossed down on H1 chart. Therefore, my bias is bearish on USDJPY today.

My plan is short on USDJPY today on bearish signal confirmation within the confluence zone at 105.699-106.213, with 105.240 as target or 104.781 in extension.

Be careful if the market managed to break above 106.443 because it will turn the bias to bullish and possibly will push USDJPY up to 106.728-107.187.

Plan: Short on bearish signal confirmation within 105.699-106.213; target at 105.240 or 104.781

USDJPY-7-March-2018

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