I think that USD/JPY is still in a downtrend and has been
correcting for the past few days. It would need to move abo-
ve 118.90/00 to take some off the pressure off, but that point
could be very though. Minor resistance also at 118.40ish.
There is support just below the 118 line, and while that holds,
we can range trade still. Please understand, I have no firm
view here.