We’ve been waiting for it, a nice bullish price action signal to present itself on the usd/yen. Basically this market is in a nice beautiful uptrend and is showing no signs of bullish exhaustion. This is a buyers market only and traders should only be looking for long opportunities.
The market has corrected back into the mean value and rejected any further movement into lower prices. The bullish rejection of the trend mean is a good indicator that the uptrend is ready to get moving again. We are waiting for a retracement entry opportunity to take advantage of those asian session retracements.
Monday’s Price Action can be erratic, so before you take any trades today make sure you’re 100% certain about what you’re doing.