USD/JPY long looks good

Last week it
seemed possible that a break in the trading range was at hand

as the dollar broke through key support levels and the EUR/USD shot to recent
highs. All that changed on Friday with NFP as we now know. Unfortunately we are
now right back in the range, but there still exist some trading opportunities,
although, I believe you still need to be nimble as prices are still a bit
erratic.

Below are some charts of some set-ups I am currently monitoring.

Interesting Charts:


** we posted this chart here last week — the
range has been broken, but 118.85 remains the trigger point for further gains.

We are pretty keen on longs in USD/JPY as this
pair has been so ‘quiet’ in recent weeks. A break above 118.85 should expose
119.30 and perhaps 119.70

As always, feel free to send me your comments and questions.

Dave

Aspen Trading Group

www.aspentrading.com