USDJPY (Daily) . . . BUYERS back in again on the dip :)

٣ يناير ٢٠١٧

I was hoping for a slightly bigger dip but she had good SUPPORT at the previous LOWS (yellow circles) to give her another boost. My next intraday targets are 119.5/120 (yellow block) . . . this is where PRICE has been hit the majority of times during prior historical business (look to the left) . . . if you were volume profiling, this area would be the longest part of the bell curve. Regardless of the fundamentals being in favour of the USD, I still remain cautious of a bigger pull back at some point and if it's going to happen then the 119.5/120 area is the one to watch out for.

Happy New Year to one and all and hope it's a good one for you :)