Intraday bias for USDJPY remains bullish. A pull-back move has occurred and the pair now is testing intraday support area a 113.187-113.493. As today’s trade plan, I would like to pay attention on the support area in order to look for buy signal confirmation with target at 113.767-114.041.
However, note that a head and shoulders pattern appears on hourly chart. Be careful if the market managed to break the support 113.187 because it will turn the intraday bias to bearish and possibly will push USDJPY lower to 113.050-112.881.
Plan: Buy within 113.187-113.493; target at 113.767 or 114.041