USDJPY Technical Strategy - Parade of Dojis Highlight Indecision Amongst Traders

The USDJPY bulls have seemingly lost their grip on the pair after a Doji signaled hesitation from traders near 104.00. The daily close below the critical barrier warns of further weakness and may set the scene for a retest of the 103.00 floor.

Daily Close Confirms ‘False Breakout’

A narrow trading band and parade of Dojis on the four hour chart is indicative of indecision amongst traders. This suggests awaiting a more constructive set of signals before entering new positions may be prudent.

Dojis Indicate Indecision As Trading Band Emerges