Although i had been looking for the USD/JPY to head towards the 103.80/00 region, i have now changed my tune somewhat as i think it has run out of steam on this move higher and may now pullback to 98.50 where i will reassess.
The 100.00 level is still a psychological level so do not get too short in front of it at current levels.
Given the way the technical studies on the daily have all turned down from overbought levels, I would be looking to sell rallies to 100.90 with a stop above 101.70 and look to add to shorts on the break back below 100.00.
