Intraday bias for USDJPY currently is bearish. Note that MA 20 has crossed below 50 MA on hourly chart and price is moving below the MAs. Hourly stochastic is almost overbought. As today’s trade plan, I would like to pay attention on the resistance area at 114.009-114.359 in order to look for sell signal confirmation with target at 113.792-113.441.

Be careful if the market managed to break the resistance 114.359 because it will turn the intraday bias to bullish and possibly will push USDJPY up to 114.576-114.927.

Plan: Sell within 114.009-114.359; target at 113.792 or 113.441


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