Is it the time to open another USD/JPY long term signal?

USD/JPY has retraced about 60 pips from the highs yesterday. It touched the 50 MA in the 4-hour chart but couldn´t break below it. It would be perfect if the price fell somewhere around 108, but the thing is that a reversal is taking place and we are seeing higher lows and higher highs. So, we might not see 108 again. The BOJ meeting and press conference are due in about a week so the chances are that they will do whatever it takes to send this pair higher and we don´t want to miss that chance. 

USD/JPY is not oversold yet in the H4 chart

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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