USDJPY is still in correction against the very nice fall very have just witnessed. We are anticipating the same fall on current price. US major averages are about to form new highs and drop or at least correction is about to happen on stock market. That drop or correction will give as a very nice wave on the Yen pairs. The way we have already seen just recently.
How you can trade on this chart.
1. Watch lower time frame like 15 minutes and get in the trade once you see that drop is happening.
2. Let the price sharply fall on 15 minutes wait for the correction and then join the breakout.
Note: Currently price is forming 1hr correction which can break up for one more push up which means if you will sell it without watching proper price action you can get stopped out or may have draw down before price reverse. So wait and watch for the right price action and get in. If dont know how the price action is look like then watch my EURJPY recent post. Or check below the signature box for EURJPY post.
Thanks for likes and comments.