expertradersfx
Short

USDJPY before NFP 6 March 2015

FX:USDJPY   U.S. Dollar/Japanese Yen
Everyone waiting for NFP? Yes

USDJPY             now forming 3 drive pattern, likely will fall down to nearest support at round number 119.400 something. But we need to be very careful making decision here because this pair currently will bounce a bit high before drop down with NFP (bad data forecast).

Maybe there will be some spike to the 120.500 level to test the critical level there tonight before the free falling. CAUTION, very wise money management needed here as we still can't see clearly the direction of this pair.

Make sure you put a ideal stoploss and use your money management to control this unclearly situation. Mostly because everyone wait for NFP.

Happy Trading and NFPing !