The US dollar is getting stronger as investors digest the result of US presidential election won by Donald Trump.
Nevertheless, some analysts suggest investors should stay alert for any possibilities at least in a few days ahead, as Trump plan to review the US tax tariffs and re-negotiate the North American Free Trade Agreement (NAFTA) among the United States, Canada and Mexico.
USD/JPY currently is in bullish bias. 20 MA has crossed above 50 MA on hourly chart. My plan today is to look for buy signal confirmation on a pull-back move to within intraday support area at 106.181-105.714 with target at 106.471 and 106.939 in extension.
Be careful if the price managed to break the support 105.714 because it possibly will turn the intraday bias into bearish and probably will be followed by bearish move to 105.424-104.956.
Trading Plan: Buy on bullish signal confirmation within 106.181-105.714; target at 106.471 or 106.939