USDJPY analysis from Muffett investments:

This is the USDJPY 4 hour chart. Please see previous analysis. We are expecting price to go to 152 and below. But first we need a retracement which will take out shorts on USDJPY. Although on friday newyork session the price retraced from earlier big move, we stil think that price can head towards the liquidity zone. We are waiting for price to come to the buyzone and then move higher into the liquidity. This will happen even with the dollar selling off as the risk appetite in the indices will push the USDJPY higher. This also will align with our GBPJPY analysis which we are expecting to have a significant bounce. OVer the next 6 weeks as the GBPJPY price reaches our short zone, we will look for confirmation before entering the shorts. Then it will be also time to short usdjpy for a move to 152 and 150.

See the divergence at the bottom between USDJPY and DXY. This divergence adds to our conviction on the thesis. so as long as price is above the invalidation levels, we can continue to look for longs to target liquidity.

All analysis done in good faith and not investment advice.