USDJPY - Price marches higher, looking for long opportunities
USDJPY continues its very bullish march higher. In cases like this we find key support levels, look for market exhaustion and price pullback to these levels and then wait for high quality bullish price action signals to get long with the overall trend. We never want to go short during strong bullish trend like these since becomes a game of picking up pennies in front of a stream roller. As long as the bullish trend hold then we want to find opportunity to get in the markets with the overall trend. A key support level to look for price action patterns during a pullback is the 100.50 to 100 level.
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