The USD/JPY pair tried to rally during the session on Monday, but as you can see found way too much in the form of resistance at the 102.50 level. Because of this, the market pullback informed a shooting star which of course is a very bearish sign. This very sign though doesn’t necessarily get us to start selling, rather it tells us that the market is ready to continue grinding sideways overall as we have done for some time now. That being the case, we expect this pair to continue falling, but should see the 101.50 level as massively supportive.
