The USD/JPY is moving towards 106.30 the POC confluence zone. At this point we might see a retracement but watch out for fresh sellers.
106.30-40 is the zone where we might see fresh selling. If the price moves within 106.30-70, fresh sellers could join and turn the price lower. Targets will be 104.35 followed by 103.36 and 103.30. We can see a counter trend move now, but watch for above mentioned scenario in case price starts to turn.
