USDJPY Dec 15 to Dec 19 Outlook

Recap
As expected the exhaustion run led to a strong pullback. Y-0 did not act as support and led to all out sell off back down to Y-1. Y-1 was breached and support was discovered right below. Closed the week below Y-0 and midpoint.

Outlook
Outside week down close. Bearish but that Japan election over the weekend will shape ninja’s short term direction. We need to see what happens Sunday night to figure out if Abe’s majority is bullish or bearish for ninja.

Pure chart pattern suggests that B-0 / Y-0 is now strong resistance with retest of B-1 and below likely.