ChadBilon
Long

USDJPY Bullish Day-Trade

FX:USDJPY   U.S. Dollar/Japanese Yen
It is some what of a no-brainier but let me make my case.

The USDJPY             made a strong move to the upside a Friday off the LiveSquawk Blast (Change To BoJ Lending Facility Could Accompany Any Key Rate Cut). It broke above former 4HRS_(Figure 1. Support-turn-Resistance-now-Support again!!). This spark bullish bias although it might be short lived.

Conformation Validity
1. 4HRS support
2. RSI Divergents
3. RSI 50-line retest
4. Stochastic Cross

Risk Events:
08:45 USD Markit Composite PMI - 51.3
08:45 USD Services PMI (Apr) 52.3 51.3
09:00 USD CB             Consumer Confidence (Apr) 96.0 96.2

Figure1. 4HRS_(Figure 1. Support-turn-Resistance-now-Support again!!)
snapshot
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