Looking at the 15 MTF USDJPY chart, the cross is nicely moving along the downward sloping channel (the blue line channel). One hour before Asian session began a bear candle push down to the major support of 200 period ema and than a spike candle penetrating the 61.8% retracement and find support at the lower channel line. The spike has a small body and the following bullish candle confirmed a formation of morning star bullish reversal. At Asian session opened(23:00 GMT), the move has carried the prices to the 50% retracement level.
Normally I started my scalp trading at 24:00 GMT. At this juncture I am pulling for a further uptrend of USDJPY since traditionally what had happened during the US session will be reversed. A downtrend during previous US session is expected for a invalidation of uptrend in early Asian session.
And furthermore, USDJPY in early morning Asian session has a tendency to move in tandem with the Nikkei and I expected Nikkei to be bullish at the opening due to the last Friday higher Wall Street.
