USD/JPY next move 1hr chart

٢٠ سبتمبر ٢٠١٩

UJ has broken and retested out of the 4hr ascending trendline today after last nights drop off from the daily resistance level, the USD showing a lot of weakness today after yesterdays Federal interest rate cuts for the second time this year. UJ ranging hard for now and setting up for its next move. I'm neutral on the move for now until price action breaks out of this consolidation.. could easily see one more trendline retest to the resistance level above before dropping.. Also watching for a break and retest to the downside to the next support level as shown. Let price action on the lower timeframes show you the move, use risk management.