Usd/Jpy has just recovered 112 level, as long as the pair trading above it's long term critical support level at 111.10, I believe the risk remains on the upside.
The USDJPY may find some resistance at the 113.00 level, but the pair may break that level to the upside to have the road clear to the high at the 114.49 level.
Trading to the downside this week. Tomorrow will be interesting to see what the news say.
Usd/Jpy started the week with a big gap up, but the pair couldn't hold above 114.00 level possibly due to increased demand for Yen.
USD/JPY is range-bound above the gap. Even if it recovers it I think it will keep moving up.
I think to go short this week. Somewhere around 115.
There is a pullback from 114.45 as I thought it
might be. I think the correction to the downside will last at least
until it reaches 113.40.