[Dan]

USD/JPY – A weekly “doji” against the base of the weekly Ichomoku “cloud” resistance suggests a market that is poised to struggle to improve significantly in the medium term; exactly the same candle signals have served as the punctuation marks for short term rallies or sell offs over the course of the underlying trend lower in USD/JPY since early April. After Friday’s bearish “engulfing” pattern on the daily chart, look for USD/JPY to remain better
offered above the low 95 zone and test key short term support at 94.40/50 in the next few days.