108,99. USD JPY is in an downtrend directed by 4H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility is low. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a support above 109,00. If the support is broken then the target will be 107,50 (150 pips).
=> We could take a short position at 109,05. We will put the stop loss above 109,50 (-45 pips). The targets are 108,00 (+105 pips) 107,50 (+155 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
109,35 - 109,60
Supports
109,00 - 108,60