USDJPY - Bullish bias off of key support area

In the USDJPY pair price has reached a critical support area and I am not watching for any sort of price action candlestick or pattern to get long. Price has been in a strong bullish trend for the last few weeks and while price has pulled back quite a bit since last week the bullish bias is still intact. Prudent price action traders will be watching for any sort of long signals to buy into the overall bullish trend. If price were to break below this key level and hold I may switch to a more bearish bias and begin looking for bearish price action from levels of resistance. Although that has not happened yet and I am still looking and bullish price action setups.

Kommentar:

Spelling correction - I am now watching for any sort of price action...