USD/JPY WEEKLY DISCUSSION FOR THE WEEK OF FEB.9-13
The USD/JPY has broken the long lasting range with a big impulse to the upside on the back of the positive NFP report. We're looking at a high probability for the pair to re-attack the current highs at around the 122 handle. Given that our bias is to the upside, we'd be looking for potential long entries on a pullback to some of the significant levels. We have drawn out a rough idea of how we'd be trading the pair on the 4H and 1H charts. Basically, if we get our desired corrective pullback to any of these levels, we'd buy on any sign of re accumulation from the buyers in an aim to attack the 122 highs.
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