111.40/50 is a good support zone
The USD being in better shape, Japanese politics not JPY supportive, BOJ report overnight stating they expect(finally!) the big companies to start raising wages and prices and the bottom of the daily Ichimoku cloud lies at 111.54 today.It’s worth a try for the support zone to hold for a rebound into the 112 big figure. I’m buying 111.55/60.
Risks : a EURJPY led fall out or the NK-US situation, although the repatriation/safe haven status of JPY is debatable in case of another missile fly over …
I won’t fight a break , hence the stop will be just below 111.40. Good risk reward.
USDJPY H1 26.09.17
USDJPY D1 26.09.17
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Great analysis K-Man. agree with you. I have put and order in if U/J does drop below support at 111.5 for a short at 111.4 with TP at 110.9