On H1 chart we can see that the intraday bias remains bearish for USDJPY. The pair has pulled back to within intraday resistance area at 110.952-111.146 and hourly stochastic is overbought. I plan to go short if I can get clear bearish signal within the resistance area with 110.833 as target and 110.639 in extension.

Be careful if the market managed to break above 111.146 because it will turn the bias to bullish and possibly will push USDJPY up to 111.266-111.460.

Plan: Sell within 110.952-111.146; target at 110.833 or 110.639

USDJPY-31-May-2017

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