If you’ve been following the signals brief lately, you’d see that we’ve been speaking a fair bit about the USD/JPY. For whatever reason, the pair has been trapped in a bit of a range and really playing nicely off some of the moving averages.

My buddy Skerdian has been finding a heap of great spots in the U.S. session, so keep an eye on the forex signals page if you’re focused on those hours.

During Asian trade, the same thinking applies. I’m wanting to buy on dips. I’m a buyer at 121.14 and below. If we can push to 113.00 I’ll be selling.

The USD looks to have found a short-term bottom so I suspect 113.00 might be in play as we look to end the week with a bang!

USD/JPY – 240 min Chart.