USDJPY LOOKS like it is getting ready to break out of the ascending trend line. I have put emphasis on the word LOOKS because it is not yet a confirmed breakout, so for that reason, we still need to treat the trend as bullish. If we see a close back above the trend line we can look for potential long term buys, If we get a confirmed breakout we can look for sells from the re-tested structure.
IG Client Sentiment - 55% Net Long COT Data Source - 59% Long