Profit taking USD/JPY at resistance 104.00. After the rapid rally on U/J last week it rose enough for some nice profit taking and now expect it to fall back towards support levels. Price was rejected off the 100ma on the daily at 104.00. This was expected given the rate U/J rallied made a perfect place to cash in. Set up was posted last week. USD/JPY Key levels > Resistance 106.00, 104.00 > Support 102.00, 100.00 What is interesting here is a breakout out to the upside of the triangle which could indicate a possible trend change for USD/JPY. Keep an eye on price for a pull back to the triangle line and a signal to go ... (full story)