USDJPY technical analysis.

USDJPY - Daily

Market (55 above 21) is bearish. Price (8 above 5) is flat. Stochastic moving down but looks like it wants to turn to the up side. Resistance levels at MS1/108.50, MPP/109.50 and MM3/110.50/111.0. Support at MM1/107.50 and MS2/107.00. Price has hit the Bear's profit zone and as per pivot point theory might return to MPP.

USDJPY - H4

Market (55 above 21) is flat. Price (5 above 8) is bullish. Stochastic is moving up. Resistance levels at WM3/109.0/MM2, WR1/109.50 and MPP/110.0. Support levels at WPP/108.50, MM1/WM2/107.50 and MPP/107.0/WS1. I am waiting for price to make a higher high. After price has retraced, I will buy at the higher low.

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