Killy_Mel
Long

FX CHART OF THE DAY: USDJPY UPTREND PROBABILITY

FX:USDJPY   U.S. Dollar/Japanese Yen
USDJPY             has broken out from the 1st st             deviation from weekly (120-hour) mean amid expanding volatility (measured by 3.2 st             deviations from the mean). Uptrend probability arises if the price holds tests at pullbacks.

Purely on technical basis, if price pulls back to the 1st standard deviation (at 124), traders can look for long positions with stop at the weekly mean (at 123.65).

One should also consider US news events coming out 12:30 GMT and Japan news coming out 23:30 GMT, which can trigger unexpected price volatility (vertical lines on the chart).
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