No directional bias sentiment in today as the week ahead for this pair could go either way. Here's a quick screenshot to show what I mean.
We have already seen one trend line break, but the continuation move failed to proceed. Having the chart redrawn, it looks like we will have to wait for this pair to play out in its wedging formation. Long term trend, this pair definitely looks bullish. BNP Paribas is out with its 2015 trade looking at USDJPY hitting 128. If this pair breaks lower, it could be the perfect time to buy at the most optimal price before following it's bullish long term move up.
