Looks as though the easy money has been made in USD/JPY near-term with prices backing and filling for what seems like a week now.
Frustrated longs are beginning to sell rallies now in the pair while trailing stops continue to build below the 84.50 level.
Reports of US real-money buying on dips have dried up, so perhaps that interest has been filled.
84.00 is significant support on pullbacks in USD/JPY. Buying dips toward that level with a stop below below 83.50 looks like the way to go near-term.
