USDJPY: Market Overview
U.S. Dollar/Japanese Yen FX:USDJPY
The market made a good upward movement starting from 104.500 support. What we have now? The bearish trend with a correction movement. The price is at the resistance zone formed by the downtrend line and SMA100. This zone and the price action in this zone can provide interesting trading opportunities.
Breakouts above the resistance zone can be used for buying and reversals from this zone for selling. Trades should be opened based on the daily and lower timeframes.
This market does not provide trading signals right now, but definitely this market must be added to a watchlist.
Source: TW DLavrov