USD/JPY is currently in a consolidation period on the D1 timeframe.
Technicals from our free live trading charts show that indicators are showing mixed signals on the D1 timeframe (hence consolidation).
What others are predicting
We see 2 different traders’ analysis on the free live trading charts, that show:
Here are my thoughts!
If price breaks and holds above 109.75503, then we will have a nice entry for a long position.
If price breaks and holds below 109.006627, then we will have a nice entry for a short position.
Our target range for the long position is: 110.431006 – 111.143195
Our target range for the short position is: 108.454107 – 107.896095
Cheers to another successful week!