Timing is everything - cautiously bullish - buying support

With negative rates for the Yen, seeing the USD/JPY and the EUR/JPY higher is a likely outcome.

The confluence area for the EUR/JPY at 132.3 is the level we are watching. A confirmed break of the level with a successful retest could lead to a new trend wave.

The USD/JPY broke its major resistance at 121 last week. It still has a few hurdles to go through.

Buying dips seem to be the trade to go next week. We are looking at pullbacks into support area and if we can identify buyers at the support, consider long trades.