When checking weekly USDJPY chart I noticed, that last weeks candle finished at resistance and it 121.50 and it is very similar as candle from 17th of May 2015, when price broke that resistance and went up for more than 400 pips.


When moving to daily chart, today we can notice retest of that blue level of previous role reversal area.


So one long opportunity for trend traders could be after 121.50 resistance break and then a retest.


Other 4h long option is, that we enter now, on the break high of 4h pin bar signal from round number 121.00. I also marked 2 possible stop loss position, one a bit riskier than other.

In Japan there is no major red news in future 24 hours, in USA we have Core Durable Goods Orders m/m and CB Consumer Confidence news.

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