is ending the trading week at a level that leaves us all in suspense for the start of next week. The pair is currently trading at 103.96 with a big resistance level
at 104.00-30. There would theoretically be a potential for a double bottom
should prices break above this resistance next week, but one would be hard pressed to aggressively short the yen so long as it trades above its support level
. Basically, this is a make-or-break moment for USDJPY
in which we will either see renewed selling pressures (trend continuation, possibly followed by a break below 100 if the dollar comes under sustained pressure in the weeks ahead) or a bullish
breakout (possibly fueled by intensified speculation over an extension of the BoJ's QE
program + maintained called for a Fed rate hike).