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Forex - Buy USDJPY Below 85.00

Posted by forex 415 days ago (http://www.dailyfx.com)
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A daily close above 84.50 - the 12/15/2010 session high - has taken USDJPY out of the range that had confined price action over the past six months. Daily RSI readings are deep into overbought territory however and a pullback seems likely before the move resumes. I will look to enter long anywhere in the 83.74-84.50 area (ideally as low as possible given adequate confirmation that the correction has run its course), initially targeting the 86.00 figure but expecting a much larger st


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