USDJPY 7 Nov 2023 on the H1 timeframe. This pair shows a pretty good chart after previously experiencing bearish at the beginning of this month. Continuing to strengthen since last week at 149.308 now the pair has managed to occupy a price position of 150.225 after successfully breaking the 38.2 Fibo level. Referring to the stochastic indicator, it can be seen that this pair is in a saturated zone which may lead to a trend reversal. If a trend reversal occurs, then go-short could be an option for scalpers. But if the pair is able to maintain and continue its bullishness, then go-long is still an option. Keep an eye on market movements and calculate all possibilities before making a trading decision.
