USDJPY: Bullish condition, looking for long opportunities

I’ve been a little hesitant about looking for short opportunities in the USDJPY and other yen crosses since the BoJ intervention in the last few weeks, this is the reason I’ve only focused on long opportunities when they are in a bullish market condition. And this is exactly what is going on in the USDJPY right now:

USDJPY
USDJPY

It was trading in a short term range, but earlier this morning the USDJPY broke the upper extreme of it, triggering a bullish market condition.

Here is my plan:

As long as the USDJPY keeps trading above 90.28 I will be looking for long trade opportunities. My next LT resistance level is at 92.29

All short opportunities will be ignored.

Trade Safe
Raul Lopez

Tags: , ,


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .