The USDJPY hit a new high this year but subsided after the weaker than expected Jobs data from the U.S NFP
With no interference from the BOJ, the pair is likely to resist at 105 –105.3 and may form a head and shoulders before the market takes profit and pushes the price back lower. Staying above 105.7 is uncharted territory for this year at least, unless new data arises that continues the USD rally for last week.
Intraday traders may have spotted the lower high on the candlestick chart as well as the Traditional MACD. Looks like a short is in place for aggressive traders:
Short USDJPY below 104.9, Stop loss 105.35 (before spread) TP 104.7, 104.46. 104, 103.8