USDJPY Tests Resistance, Wait For Sell Signal

USD weakened after ADP employment change number showed that jobs in the United States of America declined in December. Positive figures from US unemployment claims and ISM non-manufacturing PMI could not lift the USD. Market is waiting for upcoming US non-farm payrolls today.

Technical Analysis:

Intraday bias for USDJPY currently is bearish. Price is testing intraday resistance area at 115.716-116.122. My plan today is to look for sell signal within the resistance area with 115.465 as target and 115.059 in extension.

Be careful if the price managed to break the resistance 116.122 because it will turn the intraday bias to bullish and possibly will push USDJPY up to 116.373-116.779.

Plan: Sell within 115.716-116.122; target at 115.465 or 115.059

USDJPY Chart:

2 thoughts on “USDJPY Tests Resistance, Wait For Sell Signal”

  1. Hello Eko, great one. Do you mind to do one after todays closure please? Would love to see your trading plan. Cheers my friend!

    1. Hi Marc. Sorry for the late reply. OK, I’ll see what I can do. 🙂