I'm currently bearish on USDJPY, holding a short from 90.936. On the weekly chart we can see two attempted breaks of the 50% fib level on the long move down that both failed and since then we are heading south indicating to me that the bearish trend is still intact and that we will see further moves to the downside for the pair in the coming weeks.
Near-term targets are 90.337 (which we are nearing as I type this), 90.042, and 89.284.
Near-term targets are 90.337 (which we are nearing as I type this), 90.042, and 89.284.