On H1 chart we can see that the intraday bias is bearish for USDJPY. A death cross has been confirmed on 20 MA and 50 MA on hourly chart. Hourly stochastic is overbought. I plan to go short if I can get clear bearish signal on a pull-back move to within the resistance area at 110.835-111.165 with 110.630 as target and 110.300 in extension.

Be careful if the market managed to break above 111.165 because it will turn the bias to bullish and possibly will push USDJPY up to 111.370-111.700.

Plan: Sell within 110.835-111.165; target at 110.630 or 110.300


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