On H1 chart we can see that USDJPY remains under pressure. 20 MA and 50 MA are still falling on hourly chart. Hourly stochastic is almost overbought. I plan to go short if I can get clear bearish signal on a pull-back move to within the resistance area at 109.573-109.970 with 109.218 as target and 108.863 in extension.

Be careful if the market managed to break above 110.147 because it will turn the bias to bullish and possibly will push USDJPY up to 110.367-110.722.

Plan: Sell within 109.573-109.970; target at 109.218 or 108.863


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