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USDJPY Buy zone above 112.90 | July 12, 2017
Usdjpy fell yesterday after a long bullish rally. It is taking little retrace to bounce back again. We can look for buy on this pair above the support level at 112.90. So we should wait for bullish candle confirmation above this support. If we find any bullish rejection candle like pin bar, bullish engulfing etc, then we need to open buy entry and SL will be below the recent low price. TP will be 30-90 pips.
On the daily chart, we can see, spinning top formed yesterday and a bearish candle is forming today. So if this pair closes as big bearish candle, then we need to open sell tomorrow. It can be long term sell on this pair if this pair can break 112.90 support level.
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