Currently: Cash Looking to: Buy @ 103.065
As of 1/22/21 close: 103.705
LAST WEEK: We suggested shorting bounces to 104.753 with stops on a close above that level and with a target of 101.765.
UPDATE: The USDJPY traded modestly lower last week. But it should have a little more downside ahead before an anticipated bounce to 104.753 commences.
We would get long at 103.065 with stops below 103 and with a target for selling / shorting at 104.753. Stops on shorts should be honored on a close above that level and with a downside target of 101.765 for covering.