USDJPY 21/05/2019
USDJPY tests the resistance area, moves above 50 EMA and EMA 100 on H1 chart. Hourly stochastic shows overbought indication. Intraday bias tends to be bullish but beware of today's correction.
For the USDJPY trading strategy based on forex technical analysis today we can look for buy signals if they occur in the range 110.002-109.808. The target potential is up to the range 110.122-110.316. A break above 110.316 potentially will be followed by a continued bullish move to the range 110.510-110.727.
Be careful if the price breaks below 109.808 because it will potentially frustrate this bullish scenario.