USDJPY failed to go above the cloud on Daily Ichimoku chart.  So I remain Neutral / Bearish with this pair.

This Ichimoku tells us the upper space is blocked by the clouds, so buying this pair doesn’t make sense.

 

So the strategy I would recommend is the range bound play with the inner range of 119.30 – 120.30.   However, I would only recommend to sell from the top only, as the top is limited by the clouds.

Don’t forget, that once the price broke the bottom (119.30), Breakout strategy to sell!

 

YJ Baik – Forex.Today @ Tokyo