Trade: BUYING USD/JPY
Entry: @ 117.40 (a pull back to the bottom of the range gives a chance to buy)
Target: 118.85 (around the recent range high and a pivot level)
Stop: 116.90 (below the support of the range low at 117.20)
Reason: I am playing the range 117.20/118.85 which has been in place for over a week. The RSI on the hourly chart has been an excellent gauge as a classic buy signal below 30.