USDJPY may be forming a flag pattern.

We have been looking for levels to be long the USDJPY and the moves towards the 113.00 level continue to find buyers. The whole move in September looks very impulsive, which also means that dips may be bought. Flag support comes in at the 112.80 level and spike highs from April 2019 come in at the 112.23 level, so dips between 112.25-112.80 should find a support zone where buyers may be stepping in for fresh longs.

Blake Morrow