Besides trading the EURUSD pair, USDJPY has always been my second favorite trading pair. Why? I can trade this pair during my day time job, from 8.00 am till 1.00 pm. Furthermore , the pair is less volatile than GBPUSD, although the said pair sometimes are more profitable.
Looking at the pair, I reckon that it is weakening. I can see further DOWNSIDE starting from 93.56 level, and will continue declining at 90.91. Below this level will setup the pair targeting at 86.52 and 79.70 level.
If it fails to break the 93.56 level, hence bouncing back, than watch closely at the 96.35 level. You may have a U-turn instead.
Hepi trading!
Shufaad
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