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Forex Trading Strategy: USD/JPY Trading on the Doji

ForexMarketz August 17, 2014 Trading Strategies Leave a comment 768 Views

USD/JPY (102.534)

We are not seeing any key reversal candlesticks with the USD/JPY as of right now. This means we could continue to drift higher and test the range top near the key technical resistance at ¥102.98/¥103.00.

USD/JPY
USD/JPY

We have noted the formation of a Doji. What does this mean? The buyers are hesitating which mean there is nothing significant to push the dollar higher. However, if you note, at ¥102.350, there is a new bearish candlestick forming. This could provide more opportunities to stay with one’s trading strategy and continue trading within the ongoing range.

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