the daily chartist

USD/JPY recap for 28.09.2015

published 4 years ago

The yen is still in hard range limbo with strong spikes down and letting a trail of sharp candle trails (or shadows) from 119.267 as the firm support bellow and 119.928 where the price almost stops every time. On the top side 121.222 will brake any attempt from the bulls to push the price up and weaken the yen further. I think this position movement and bull traps all over the place will continue until a strong catalyst appears to brake the range for the usdjpy pair. My recommendation is - trade on the small charts - scalp if you can, chart the range, sell the tops, buy the dips and be cautious.