USDJPY_e is currently rallying around 105.611. On the Daily Chart , the previous candle closed below the previous 52 Period Exponential Moving Average.
This is a possible Indication that we are in an active Down trend . USDJPY_e is currently in a range, not going above the previous day's highest high 106.946,or the previous day's lowest low 105.201. If the price breaks above 106.946 then we will consider a long term buy with our target at 101.455. And on the flipside, a sustained move below 106.946 will attract sellers with an ideal target around 98.9749.