USDJPY: Good Market for Trading during The Next Week

The next week and USDJPY will be able to provide us interesting sell opportunities based on the daily and lower timeframes. The market made a strong upward movement. It was possible to buy from 108.430 based on a breakout and hold long positions up to 109.715 resistance level.

We should be ready to see a reversal from this resistance, and it will be a sell opportunity for us. The market will need to correct the upward movement, and we will have room for sell trades.

If the price breaks the resistance level, it will probably be a false breakout. If you want to buy based on the breakout, only scalping and short term trading strategies should be used. But the false breakout will give another bearish signal and sell opportunity.