At the moment, USDJPY is playing ball between support and resistance
Sometimes trading is hard (just look at last night), and sometimes it's dead easy
The two levels I highlighted earlier have been in play and have responded perfectly
USDJPY 15m chart
121.00 held another test and the 55, 100 & 200 dma's are still holding the upside around 121.50/60
The levels won't last forever so if trading them, tighten up those stops. If they break then look for that all important confirmation
On the upside, 121.80/85 is likely to hold resistance ahead of 122.00. That's likely to move the ping pong match to the 121.50 - 122.00 table
Below 121.00 and 120.80 should see mild support but it's stronger at 120.50/60, so 120.50 - 121.00 becomes the table tennis table
With the dollar looking stronger across the pairs, the risk looks to be a break to the upside
