USDJPY pais enjoyed a strong up move yesterday.
Currently in Asian session, the price is coming down nicely. Hopefully this is forming a pullback, so that we can start buying this pair again in London session.
Looking at Daily Ichimoku, it is almost there, above the cloud! As I said before, I will be fully Bullish once the price gets above 120.70
Also this pair broke the ceiling of the Inner Range Bound.
So where is the next buy zone??
On the top of our regular buy zone of Fib38.2-61.8%, I would also like to suggest Hourly 21EMA, which is above Fib38.2%.
Please remember Hourly 21EMA is very strong dynamic Support. I respect Daily, H4 and Hourly 21EMAs.
So let’s enjoy observing the down move during Asian session, and look for the reversal pattern in London session, so that we can buy this pair.
For GBPJPY pair, I would suggest almost similar setup.
Below Weekly Ichimoku says it all! 🙂
YJ Baik – Forex.Today @ Tokyo