At the end of last week USD/JPY closed at 119.52, near its highest level of the week (119.61). The closure of a guidance medium term up trend still have the energy to continue again. Currently, in the short term, USDJPY likely to continue to consolidate, move between 115.00 and 121.00. This consolidation phase can be long.
In the 4-hour chart, now USD/JPY still moving horizontally near the 61.8% Fibonacci retracement which became one of the target correction to the downside from 121.57 to 115.55. That level is at 119.45. Until this analysis prepared berlum indication lagsung pair will move upwards following the closing session last Friday. The market appeared to prevent trafficking USDJPY. Technically, the intraday scale, the potential is still visible towards the top of the position is to support dynamic pair is now in 119.05. If you can hit 119.61. USD/JPY could soon be tested again 120.00 psychological level and other Fibonacci levels at 120.30.