The USDJPY broke through an important LT & ST resistance level triggering a bearish market condition. I’d feel perfectly comfortable going long here, because of we see a possible intervention of the BOJ, it would be in the direction of my trade. This is how my short term chart looks like:

As long as the USDJPY trades above 83.55 I will be looking for long opportunities in the dollar-yen.

Trade Safe!

Raul Lopez
Forex Training