This pair consolidated above dynamic support today, the highest probability move remains an upside break from here. We would have liked to see a nicer price action signal to trigger a trade so will keep an eye out on the 4-hour timeframe for any entry signals over the next 24 hours.
The USD/JPY broke out of it's trading range today and is now showing some clearer direction. We may see a new uptrend on this pair now and will wait for a rotation back to support / the EMAs before looking for a good price action signal to join the buying power in this market.
This price action trading commentary is published by Lewis Barber and represents his current view of the forex market.