Strong Bullish Momentum!

Despite the news, I've been bullish on the Dollar Yen and it appears the weekly chart is confirming that. It's currently on a bullish movement, having surpassed the immediate resistance level and heading higher.

For counter trend traders, I recommend waiting for further confirmation before engaging in shorting opportunities. The four hour chart is on the rise to the previous resistance, but ensure to match your time zone with your trading house broker time. There's presently a violation of the previous high on both the four hour and one hour charts, so it's not ideal to short yet.

If you're seeking a buying opportunity, keep an eye out for a pullback at 144.79. On the four hour chart, there's a trend line waiting for a retest at this level. Ensure to wait for candle close before entering trades and watch for the market respecting the trend line.

Personally, I choose to look for a buying opportunity at 147.49. My initial stop-loss will be placed at 147.15, and target 1 at 147.94.

However, please note this isn't trading advice, so be sure to conduct your own analysis and not follow blindly.