As I mentioned on DYX , USDJPY
also at an important key level now. If 108 hold, then I expect to see 110 - 111 area as 109 become a poor high. But trade below 108 we may see 105 area. Couple things in my mind, DXY
may back to 99 area before make any decision. And JPY is the weakest pair among others. So I will try to build position on Bulls side at USDJPY
. I will change my bias to Bears side when I see more liquidation and more new seller below 108 price level.
Beside that, accumulation at daily chart
will looks good if the we see aggressive buyers on USDJPY
at 108 level.