USDJPY breakeven level S1 with a GAP. I presume price will test the level below S1 level and later probably will go down to S2.
On weekly chart there is gap which shows that downtrend is pretty strong and sentiments down to short positions.
On daily chart i can see risk that price may stay in a current flat for some time, but still i will be watching for the bottom line of the flat. If price breakeven bottom line, i will be shorting. Keep in mind that price still can reverse with temporary uptrend till resistance.
NOTE:Information provided in this article is not a signal or recommendation for any trading/investment decisions. This is only my personal opinion and point of view.
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