Sforex

USDJPY: Tight range low volume and volatility : How to trade.

FX:USDJPY   U.S. Dollar/Japanese Yen
218 0 1
Look at on the chart:

- 124.40 is the strong resistance : USDJPY             bounced back after testing this level.

- Below the price is VERY THICK KUMO CLOUD, After a rocket to jump above Kumo cloud, USDJPY             chooses this level as a support.

- Support is at 133.50

Range: 123.5 - 124.40 : 90 pips.

This is a small and tight range: This range is very hard to hold the price.

I wait for a breakout.

Any break is a signal to follow the trend.

Hard to say about a clear move for USDJPY             next week:depend on US Equity : USDJPY             only rallies when US Stock goes up.

And to trade USDJPY             next week, I think I should wait after a breakout happens.
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