USD/JPY: Range bound trading with bullish bias

Nenad Kerkez Top-XE

The USD/JPY is moving in a neutral, range bound trade with a possibility of a pullback. 114.85-115.00 is the major resistance and judging from current price action this looks like a retracement in uptrend. Substantial break below 114.00 could target 112.90-113.00, where we could see a new bounce. Breakout should happen only if the price gets above 115.00 towards 115.50 as the first target. Currently USD/JPY is at support so watch for any bounce or a breakout.

USDJPY Current Trading Positions

Sell 22%

Buy 78%

Avg Sell Price 107.09

Avg Buy Price 110.75

Liquidity Distribution

Author

Nenad Kerkez

Top-XE

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