106,84. USD JPY broke 106,50 resistance. USD JPY is in an downtrend directed by 1H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility is high. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. 1H ForexSto (Modified Stochastic) crosses and gives a positive signal. The consolidation should continue. The price should find a resistance below 107,15.
=> We could take a short position at 107,00. We will put the stop loss above 107,40 (-40 pips). The targets are 106,00 (+100 pips) 105,50 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
107,20 - 108,35
106,30 - 106,00