No price tests occurred on Friday due to the excessively high market volatility.

With markets ignoring the relatively weak reports on the growth rates of the Japanese economy, it can be assumed that traders anticipate the Bank of Japan to abandon its negative interest rate policy. However, strong data on the US labor market signaled that central banks may not end the high interest rates anytime soon.

Today, data on the Business Conditions Index for major Japanese manufacturers and changes in the money supply aggregate came out, and their numbers resulted in the halt of the upward potential. This may continue amid the empty macroeconomic calendar in the US.

For long positions:

Buy when the price hits 145.69 (green line on the chart) and take profit at 146.32. Growth will occur, but it will not last very long.

When buying, ensure that the MACD line lies above zero or rises from it. Also consider buying USD/JPY after two consecutive price tests of 145.12, but the MACD line should be in the oversold area as only by that will the market reverse to 145.69 and 146.32.

For short positions:

Sell when the price reaches 145.12 (red line on the chart) and take profit at 144.45. Pressure will increase in the case of an unsuccessful attempt to continue the rise around the daily high.

When selling, ensure that the MACD line lies below zero or drops down from it. Also consider selling USD/JPY after two consecutive price tests of 145.69, but the MACD line should be in the overbought area as only by that will the market reverse to 145.12 and 144.45.

What's on the chart:

Thin green line - entry price at which you can buy USD/JPY

Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely.

Thin red line - entry price at which you can sell USD/JPY

Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely.

MACD line- it is important to be guided by overbought and oversold areas when entering the market

Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decision based on the current market situation is an inherently losing strategy for an intraday trader.