Will the Dollar bounce against the Yen?

On Friday the USDJPY traded down to 101.40. The level moved into a buy zone on the weekly chart.

Despite the negative talk in the market about the dollar value, a trader must watch the market and not the talking suits.

A quick look at the daily USDJPY shows an interesting candle pattern developing. THe pattern is somewhat bullish.

We are watching for a sustained move and the opportunity to go long the dollar against the yen.

The opportunity exists for a day trade and a swing trade.

Watch the 60 minute chart and wait for an entry trigger. Remember that the markets open in Japan at 7 pm eastern time on Sunday. You may have to start tracking this trade on Sunday and follow through on Monday.