Currently: Cash Looking to: Short @ 104.753
As of 1/17/21 @ 8:32pm EST: 103.724
LAST WEEK: We suggested shorting USDJPY at 104.579 with stops on a close above 104.763 and with a target for covering at 101.596.
UPDATE: The USDJPY is in the middle of no mans land right now. It has resistance at 104.753 and a very short-term support at 103.065. Right now, we think we see USDJPY dip to 103.065 and then bounce up to 104.753 and then really tumble lower towards 101.765 or so.
We would look to short bounces to 104.753 with stops on a close above that level and with a downside target of 101.765 for covering.