Looking at the USDJPY pair's daily chart in a wide view, the price is in a wide consolidation between 108 and 115 for more than a year. After the price bounced off from the resistance zone in November 2017, there has been a slow decline towards the support zone at 107.30 -108.30.
Today movement has slowed down after today's strong price drop for over 100 pips. There is a high probability that the price will go up again from this area, so we are trying to open a USDJPY BUY order here. If there we will not see stron demand soon, we will exit.
Today movement has slowed down after today's strong price drop for over 100 pips. There is a high probability that the price will go up again from this area, so we are trying to open a USDJPY BUY order here. If there we will not see stron demand soon, we will exit.