I wanted to get my hands dirty so here is my first analysis on USDJPY which is not a pair I have much experience on. Please fire me any feedback.
Price Action - I see a bearish pattern (not perfect) = "In Neck Bearish" - this tells me to expect the downtrend to continue but not abruptly. We are approaching the major psycho level of 90.00 so I would expect shorts to be taking profit and bottom fishers to come in here so todays action is not surprising. Tomorrows opening will be important as our bottom fishers may get nervous if price opens lower.
MA's - Big Boss, Boss and Slave are in agreement that the train is heading South. Slave shows increasing downward momentum.
Resistance at 91.729
Support at 90.00
Key level Fridays close at 90.70 = Early Feb Support. Small note - we had little problem pushing below it which gives further bearish tone.
Overall this leaves me bearish, I would not commit to any trades here but would watch the test of 90.00 and tomorrows open.
Volume looks respectable.