I'm personally expecting more upside to uj as exhaustion is not prevalent on higher timeframes, however, it is a possibility that a correction will begin in the coming days/weeks. A better entry for a short in my opinion is 121.4 area, however, if bearish market structure emerges i will look for short entries.
Here's my graph on USD/JPY
The indicators used suggest a decrease from A to the support area (B). The bank of Japan has announced an eventual decrease of the interest rate, which implies an increase of USD/JPY.
Feel free to comment and to give me your opinion.
