106,04. 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 low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The price should find a support above 105,80. The consolidation should continue. If the support is broken then the target will be 105,00 (100 pips).
=> We could take a short position at 106,05. We will put the stop loss above 106,50 (-45 pips). The targets are 105,50 (+55 pips) 105,00 (+105 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
106,50 - 107,00
106,00 - 105,00