USDJPY has been in a range bound, thus not very interesting to trade.

2015-09-28_14-42-03-UJ1

The above Daily chart shows the prices are strongly blocked by MPP level (120.90).

If we see Hourly chart (below), the prices are forming 2 ranges, Inner range (119.70-120.60) and Outer range (119.20-120.90).   I expect this range bound continues for some time.

2015-09-28_14-43-08-UJ2

So your options are

  1. Range Bound Play
  2. Trade USDstraight pairs
  3. (optionally) if you do want to trade YEN pairs, I suggest you trade GBPJPY or EURJPY

 

 

Hope this info helps you a bit.

 

 

YJ Baik – Forex.Today @ Tokyo

 

 

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