USDJPY is trading around 141.90. Daily trend is neutral as price is inside the Kumo (cloud). Price has reached our pull back target and so far has respected the cloud support. Price tested the lower cloud boundary and is now bouncing higher. First important test is the tenkan-sen (red line indicator) resistance at 142.32. At 140.30 we find the lower cloud boundary which is key support. Bulls do not want to see price break below this level. The kijun-sen (yellow line indicator) provides resistance at 144.82. Bulls will need to break above the cloud and above the kijun-sen in order to reclaim control of the trend.
