USDJPY has pulled back to within the intraday confluence zone at 112.062-112.534. On H4 chart we can see that the price is moving between 20 MA and 50 MA. Intraday bias remains bearish even though we have seen a golden cross on hourly chart. My plan is still short on USDJPY on bearish signal confirmation within the confluence zone with 111.641 as target and 111.220 in extension.

Be careful if the market managed to break above 112.744 because it will turn the bias to bullish and possibly will push USDJPY up to 113.005-113.426.

Plan: Sell on bearish setup confirmation within 112.062-112.534; target at 111.641 or 111.220

USDJPY-17-OCTOBER-2017-FT

Leave a Reply

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