USDJPY 11/07/2019
USDJPY today is moving under pressure, falling below the 50 EMA and EMA 100 on the H1 chart. Hourly stochastic almost shows oversold indication, beware of possible correction today. For the USDJPY trading strategy based on forex technical analysis today we can look for sell signals if a correction occurs to the 108.291-108.558 area. The potential target is up to the range 108.126-107,859. A break below 107,859 potentially will be followed by a continued bearish move to the range 107,592-107,293. Be careful if the price breaks above 108.558 because it will potentially frustrate this bearish scenario.