Bias basis
USDJPY has managed to bounce a few times at support 1 but the recent break, in my opinion, is a clear sign of where the market would be moving towards on a longer term horizon.
My thoughts
1) I'm more in favor of looking for buys near the next buying zone around support 2.
2) Still possible to look for buys along the way but, in my opinion, it is important to manage your expectations of potential TP targets given the strong selling unless a major change occurs.
USDJPY has managed to bounce a few times at support 1 but the recent break, in my opinion, is a clear sign of where the market would be moving towards on a longer term horizon.
My thoughts
1) I'm more in favor of looking for buys near the next buying zone around support 2.
2) Still possible to look for buys along the way but, in my opinion, it is important to manage your expectations of potential TP targets given the strong selling unless a major change occurs.