USDJPY pair started the week with the gap down.

On H4 chart, it broke 55EMA with the gap, though currently the price came back above 55EMA.

2015-11-16_14-38-02-UJ0

Thus I have to assume the price will continue to come down to 121.40-50 area (200 EMA & Role Reversal Support)

 

2015-11-16_14-35-19-UJ1

One more possible buy zone is Daily 21 EMA (122.00 ish).

Thus I will look for the Long opportunities at 122.00 and 121.50.

There will be BOJ Monetary Policy meeting scheduled on Friday.  But until then, I am expecting to see couple of red candles on the Daily.

 

Hope this analysis helps you build your own.

 

YJ Baik @ Forex.Today

 

2 thoughts on “USDJPY Trade Plan (Nov 16)”

  1. cat says:

    thanks man good for 30 pips

    1. YJ Baik - Forex.Today says:

      Good to know you got 30 pips!
      Way to go!

      -YJ

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