Current trend: Sideline moves within the range
Recommended position: Sell
- Buy zone: 99.80
- Sell zone: 105.60
Comment: USDJPY is the same as the last week, Slow moves to the upper side of the range telling us that a bullish move is trying to form a support to move higher. Without any real action from Bank of Japan or the Federal Reserve of US, I would not buy this pair, at least till the US president election is giving us a name for the next US president. Watch out your positions, This pair is classified dangerous in the next week!
This post is valid during trading week: 24th-28th October, 2016