The Trend of the Day - USD/JPY

Dollar Yen Counter-trend Rally Still Has Legs

Though the Daily trend is down, USD/JPY continues to march against the trend toward its resistance down trend line. The 97.00 area should act as resistance to turn this pair back around. Wait for either a break of the white trend line and or a bearish candlestick reversal formation at resistance before shorting this one. Look for a 1:2 risk reward.