USDJPY has been trading inside a range
for a couple of weeks, the area is full of former support and
resistance levels and lack of sway on either part of the Pacific didn't
help much; we do keep an eye out for the support levels as we are
trading close to the lower side of the range but the 104.50/105 levels
seem pretty far at the moment. This could be the build up to a much
larger move and the bullish bias might prevail but until there are some
clear signs of this happening one should trade carefully on the
intra day time frames, and hopefully those trades can turn into bigger
ones.
