USDJPY watch for break
Updated
I expect USDJPY to reverse bearish soon. However price might extend a little higher first. I'll be looking for the bearish reversal. If however price accelerates higher I will adjust and wait for the consolidation after the impulse. To me the current sideways price action is more like a reversal pattern than a consolidating structure. That's why my bias is bearish among other reasons.
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I like to see USDJPY a little higher (109.15 minimum) followed by a bearish reversal. If this current consolidation plays out like suggested in the post I will be selling USDJPY with the potential of several bearish break-out to follow.
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