USDJPY – Down
Since few days ago, no significant move has been seen on this pair, the Us dollar is still rallying within a tight range, not going above 110.40 or below the 4 hour support level 108.50. As long as the price remains within this zone, we’re only interested in trading reversals, if the price should break above 110.40, then we expect a possible bullish price movements towards 111.65, this pair should be traded alongside CADJPY, CHFJPY, NZDJPY and AUDJPY. These pairs have a strong positive correlation of up to +53% and will move in the same direction today. Only buy or sell the US Dollar if the other positively correlated pairs are giving the same signal.
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