Week of 19/03-23/03 USDJPY bearish action expected
During the past week we saw that the bears were strong and kicked in at 107.00 to bring the price down. For this week we may expect some retracement then price to continue down move to 105.40-105.50. At this moment the pair is not enough attractive to take a short position because of the long distance from the nearest strong structure above. A retest of the 107.00 area may be a good point to start looking to get short.