USDJPY Forecast

The USDJPY made another indecisive movement on Friday. There are no changes in my daily outlook. Price has been trapped in range area of 82.20 – 79.55 for more than two months now and we still need a clear break from either side to see clearer direction. Unless you are a long term trader who interested to buy the pair while price is moving around the historical low, there are better pairs to be traded for intraday traders. Buy support and sell resistance is a great way to trade during a sideways condition. Aggressive intraday traders can still long around 80.00 – 79.55 with tight stop loss below 79.55 or short around 82.20 also with tight stop loss.

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