On H4 chart we can see that USDJPY is moving above 20 MA and 50 MA. A golden cross has been confirmed on H4 chart and both MA currently are rising. 4-hours stochastic has crossed down.

My plan is to go long on USDJPY on bullish signal confirmation on a pull-back move to within the intraday confluence zone at 111.404- 111.004 with 111.651 as target and 111.898 in extension.

Be careful if the market managed to break below 111.004 because it will turn the bias to bearish and possibly will push USDJPY lower to 110.851-110.604.

Plan: Buy on bullish setup confirmation within 111.404- 111.004; target at 111.651 or 111.898


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