investsoft
Long

USDJPY BUY opportunity

FX:USDJPY   U.S. Dollar / Japanese Yen
Looking at the USDJPY pair's daily chart in a wide view, the price is in a wide consolidation between 108 and 115 for more than a year. After the price bounced off from the resistance zone in November 2017, there has been a slow decline towards the support zone at 107.30 -108.30.
Today movement has slowed down after today's strong price drop for over 100 pips. There is a high probability that the price will go up again from this area, so we are trying to open a USDJPY BUY order here. If there we will not see stron demand soon, we will exit.

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