USD/JPY pair has been trading in consolidation from past 3 months and moving in the rage of 106.669 to 108.536, The pair USD to JPY has taken support again at 106.536 which it declined today to further breakdown, its positive sign that the pair will move towards 108.536 in the ongoing week, a long position is favorably seen at 106.840 with a target of 108.536 keeping stop loss at 105.875 on daily closing basis. Technical indicator stochastic is in oversold zone and a crossover is about to happen for upside direction. The USD/JPY paid has to trade in consolidation mode as the pair is not showing any direction.
