USDJPY is moving in consolidation mode. The pair currently is testing intraday resistance area at 111.554-111.767. Bearish signal has been confirmed on hourly stochastic, so I think there could be a bearish move today with 111.076 as target and 110.863 in extension.

Be careful if the market managed to break the resistance 111.767 because it will turn the intraday bias to bullish and possibly will push USDJPY up to 111.980-112.219.

Plan: Sell within 111.554-111.767or sell on market; target at 111.076 or 110.863


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.