USDJPY looking to continue momentum

USDJPY (86.47)

USDJPY is moving in a nice gradual downward trend, Currently traders will look to sell USDJPY on rise to retracements. Currently such good level can be seen around 87.25 level. Selling around this level for initial target around 86.00 level, break of which will set 84.50 as next target for USDJPY. The retracement don’t seems to extend too much above 87.50 level as USDJPY is moving in a nice trend.

  

TRADE:

Sell USDJPY @ 87.25 for Profit Level @ 86.00 with Stop @ 87.75

Small trading range for USDJPY

USDJPY (91.38)

USDJPY is settling in an upward trend and Intra-day traders might look to trade with a small stop. Currently such level is around 90.95 for buying USDJPY. Use of small stop is recommended because USDJPY might look to resume its long term downward trend but currently it seems that USDJPY is taking correction for 93.50 to 89.00 leg.

TRADE:

Buy USDJPY @ 90.95 for Profit Level @ 91.55 with Stop @ 90.60

DAILY CHART: