FX:USDJPY   U.S. Dollar/Japanese Yen
65 0 4
Looking for high probability trade setups, the USDJPY             made it back onto our watchlist.

Although it's trading in a consolidation, the path is obvious with the well-defined boundaries to both sites.

We just saw a rejection of the 116 level together with a RSI divergence.Although this is a bullish signal, as long as price is in the range, it's not a signal.

A break of 118 will have us looking at long opportunities. A break of 116 to the downside will get us interested in shorts. Good to have this pair on your watchlist. Especially with all the bearishness brewing up everywhere else.

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