After leaning on its lower Bollinger band, the USD/JPY pair is rising again. The break of the moving averages at 7 and 20 sessions and the slight Bollinger bands divergence may indicate a return of the underlying trend strongly bullish. The resumption of the movement would be confirmed if we break the major resistance at 94.60. The Bank of Japan press conference scheduled for Thursday could also create volatility on this pair and therefore offer great opportunities for trading.
Direction: Up
Entry: 93.59
Stop-Loss: 92.00
Hold position and follow the stop-loss below the moving average at 20 sessions.
