USDJPY remains in bullish bias after a golden cross has been confirmed on hourly chart. On H4 chart we can see that the price remains above 50 MA, with a spinning top candle appearance. My plan today is long on USDJPY on bullish signal confirmation on a pull-back move to within the confluence zone at 113.660-112.972 with 114.085 as target and 114.510 in extension.

Be careful if the market managed to break below 112.972 because it will turn the bias to bearish and possibly will drag USDJPY down to 112.709-112.284.

Plan: Buy on bullish setup confirmation within 113.660-112.972; target at 114.085 or 114.510

USDJPY 22 October 2017

Leave a Reply

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