My opinion is that I'm bullish on the USD long term and bearish on JPY, both opinions are based on fundamental factors. Japan has a huge debt problem and its population is aging (low reproduction rate and no immigration.
Looking at the technical factors, on the 4hour chart we can see the price sitting at the bottom of ichimoku's kumo cloud. The cloud is pretty fat therefore there is a lot of support. There is also support from the SMA100, the SMA 200 and a trendline. We also see a bullish crossover of the SMA100 and SMA200.
USDJPY will go up to towards 106.40, where price will be facing a major bearish trendline. From that point, we might see price go down a bit before breaking the bearish trendline and starting a bullish trend back to the 110-111 area.
Looking at the technical factors, on the 4hour chart we can see the price sitting at the bottom of ichimoku's kumo cloud. The cloud is pretty fat therefore there is a lot of support. There is also support from the SMA100, the SMA 200 and a trendline. We also see a bullish crossover of the SMA100 and SMA200.
USDJPY will go up to towards 106.40, where price will be facing a major bearish trendline. From that point, we might see price go down a bit before breaking the bearish trendline and starting a bullish trend back to the 110-111 area.