On H4 chart we can see that USDJPY remains above 20 MA and 50 MA and both MA currently are rising. 4-hours stochastic is almost oversold overbought while hourly stochastic already oversold.

My plan is to go long on USDJPY on bullish signal confirmation on a pull-back move to within the intraday confluence zone at 111.689-112.050 with 112.273 as target and 112.634 in extension.

Be careful if the market managed to break below 111.689 because it will turn the bias to bearish and possibly will push USDJPY lower to 111.466-111.105.

Plan: Buy on bullish setup confirmation within 111.689-112.050; target at 112.273 or 112.634


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