USDJPY remains under pressure. A pull-back move has occurred to the intraday resistance area at 111.537-112.040. As today’s trade plan, actually I would like to open sell at current price with 115.200 as target or 110.721 in extension. However, if another pull-back move occurs to within the resistance area, I might want to look for another bearish setup to go short.
Be careful if the market managed to break the resistance 112.040 once again because it will turn the intraday bias to bullish and possibly will push USDJPY up to 112.352-112.856.
Plan: Sell at market or sell within 111.537-112.040; target at 115.200 or 110.721