As per earlier post, the USDJPY is looking to test the 61.8% retracement of the move up from the November low to the January high. The level comes in at the 88.23 price. A break of that level will look toward 87.50.
Look for profit taking buyers against the 88.23 level with stops on a break. Topside should find sellers against the 88.46 level now (low from earlier today).
