USDJPY pair has been forming the range bound, and currently the price has reached to the top of the range.
If you are Bear, you should consider to sell from the current level.
If you are Bull, on the other hand, you should just want for now to see
a) the clear break of the ceiling, and try to buy from the retest of the ceiling (121.40)
b) the price coming down to the bottom of the range (120.40), then try to Long again.
YJ Baik – Forex.Today @ Tokyo