USDJPY Short time bearishFor years now Yen has been weak and USDJPY Rose 11% in the last 5 months meaning the trend is bullish . FX:USDJPY Peaked at 160 area last month then we saw some selling pressure which drove the rate to 152 zone {Last year high}
Price rejection since this month open from 158 means we have some selling pressure, Today after US GDP QoQ2 release USDJPY Dropped 900 points too. I would wait to get a favorable long entry points.
Areas of focus 155, 152, lowest 150. Below that the bias turns bearish mid term.
Usdjpyneutral
USDJPY - ConsolidationWe've since taken all profits at our 3rd TP (1.40800 ZONE). Price moved move up from there to the current at 144.400. It is CONSOLIDATING before either moving up to 147.000 or falling below 140.800 (my last TP). I'm currently not involved with USDJPY until price moves to either 147.000 or 140.800.
You need to able to stay away from a PAIR if it is not showing what you want. ALWAYS PROTECT YOUR CAPITAL!!!
USDJPY-NEUTRAL to upsideEven though I see more correction to come, the short-term picture suggests we should see up move first.
We have neckline currently and as long as this holds, we should see re-test 129.50 and 131.50 before lower again.
I am staying on side line because of uncertainty, and prefer selling higher levels, then to go long for now.
For those attempting to try BUY current 127.50-127.60 and place stop-loss below 126.90. Take profit @ 129.90.