Holding on to USDJPY long trade

USDJPY – weekly candle is bullish and any dip to 79.82/70 is a buy with a stop at 79.37. However, me thinks support at 80.00 should hold, hopefully. There is another minor support at 80.24. You can also see a clear inverted H&S with a neckline at 79.73 which gives a minimum target of 81.50. In the short term, 81.00 is a good resistance where some profits can be realised or short term short USDJPY trade initiated for at least 30 pips.

             

AUDJPY – looks strongest. Two inside days: waiting for the close above (hopefully!) for confirmation.  The bottom of the inside day at 80.17/22 is a buy area with a stop at 79.95 Resistance at 81.03 and 81.55 and a daily close above 81.55 means the pair is eyeing 82.65.

GBPJPY closed above the open of the long bearish weekly candle which is encouraging however it has yet to close above 125.88 on a daily basis. Once above 125.88, then  126.47 will be in play.

EURJPY – is the weakest cross. Though there is a lot of support at 100.30/10 I would hate to see a daily close below 100.36, Friday bullish candle low. Resistance: 101.52 and 102.07

Good luck