USDJPY How to Trade

When the price moved above the cloud, the market became bullish. The price reached 110.00 resistance level, bounced from it now we have a sideway movement between this resistance and 109.00 support. DMI confirms range market conditions.

As we have RSI moving upward, DMI which becomes bullish and the price above the cloud - it will be logical if the market continues the uptrend. We should expect to get a breakout above 110.00 which also can be used as a buy signal with stop orders below 109.00 and profit targets at the nearest resistance levels.

An alternative model can be if the price drops below the cloud and 109.00 support. The breakout below will confirm the strength of bears. It will give a new sell opportunity with stop orders above 110.00 resistance and profit targets at the nearest support levels.