FX:USDJPY   U.S. Dollar/Japanese Yen
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When I look at the USDJPY             weekly chart (not for trading purposes), but for long term knowledge & wisdom: you can get major trend, support & resistance areas and fib retracement areas. Where is this pair going? I have read & agree with the principle of if price action on any long term charts, which in my view are 4 hours or higher, then they have a lot of information within them. You just got to understand & dissect them part by part.
1st- I see an around 42 month uptrend which happen for a few years, which ended around 6/8/15, then a new change of direction down ward trend started & still going on now. When will it end? hmmm. In my view, if a long term uptrend was around 42 months, then downtrend will take around (not exactly) half that time to complete or around 21 months. This would put this pair into a downward trend or long consolidation until 2017 (June) area, in my opinion. On noted Fib retracement on this chart, price action just hit the top of GRAY area noted which is a MIDDLE area of Fib retracement indicator. I believe that the USDJPY             will continue to go down, all the way to around at least to level of 100.000 (MAJOR PSYCHOLOGICAL PRICE ACTION NUMBER) & 50% Fib retracement area.
On shorter trade time frames, I would be focusing on doing BEAR trades mostly. Things you should know about: USDJPY             is 2nd highest traded FOREX pair with (17%) after the EURUSD             (28%), sudden breakouts happen with not much forewarning & related to news events, a lot of long term consolidation, short term trends do happen & fairly stable pair. What I have read is best times to trade this pair ( GMT             time) is: 1200 a.m. to 900 a.m. <need to convert to your time>. With everyone long term trading and little or no stress, which is hard to do when trading with real $$$.
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