USDJPY LONG POSITION FOR THIS WEEK

If the next candle on the daily timeframe of USDJPY breaks through the 108.454 level, then we can place a nice long position which should be valid until the take profit of 111.00. Of course, we can expect a pull back down to 109.00 as we can see a clear W shape with good support. If, however, the candle breaks through the level of 107.214, then a long position is no longer valid.