USDJPY Dec 16 to Dec 20 Outlook

Recap
First test of Y+1 held ninja back. Y-0 acted as support on pullback. 2nd try at Y+1 cleared the resistance. Strong reaction right below 104 sending ninja back down to week mid. Closed the week below Y+1 and above midpoint.

Outlook
As mentioned last week BOJ and Japanese government would do something to disrupt the rally. As long as Y+1 not breached on 4 hour, we have to assume FBO against Y+1 is in place with Y-1 as target.

Japanese takes end of year holidays very seriously. Major slow down in price movement is expected until after the first week of next year.