This week the benchmarks on USDJPY will come on Wednesday and Thursday, so it’s not worth expecting some major changes before Wednesday. At the moment, the currency is slightly overbought, the key support level is 115.430, resistance level is 117. Point to short is lower than 115.430 mark, to long – 117.
I trade using USDJPY trend line break approach. Only hourly price chart is used for a trend line, the line is drawn through at least two local lows or highs.
I trade using USDJPY trend line break approach. Only hourly price chart is used for a trend line, the line is drawn through at least two local lows or highs.