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The pair forms whipsaws pattern on both daily and 4H charts.
Trend in sideways has now spiked above DMAs
Add fresh longs only upon breach above 103.223.
Upswings can be extended at channel resistance.
Downswings may drag up to channel base.
RSI & Stochastic signal momentum in current upswings.
While 7DMA crosses over 21DMA on the daily chart which is the bullish signal, and MACD has also evidenced bullish crossover to substantiate the bull swings continuation.
The next BoJ monetary policy meeting (MPM) on September 20-21, again, will be a significant market event. At the previous meeting, the Bank disappointed the market with a less-aggressive-than-expected monetary easing; the Bank decided to increase purchases only in ETFs while they kept policy rate and JGB purchases unchanged.
On intraday speculative grounds, one can think one touch binary calls for target 103.768 levels.
