Volume profile analysis suggests in the bullish run there has been profits taken and potential shorts opened at higher prices. This along with the volume imbalance (potential trapped shorts) at the the start of the run suggests a deep retrace back to VAH(115.175) and POC (109.928) for further accumulation before the next move.
We will have a short bias USDJPY until the levels above are resolved, using this bias to enter swing trades on lower timeframes.
We will have a short bias USDJPY until the levels above are resolved, using this bias to enter swing trades on lower timeframes.