USDJPY closed at the highs last week so we are obviously looking for even higher levels now. We see pair trading in fifth wave of a five wave sequence from 79.00 figure which was a start point of a black wave 3. As such, once wave 3 ends we will see a sizable pull-back of a wave 4, back to 87.70. This could happen after a test of 91.55 level which is very nice Fibonacci resistance zone; wave (i)=(v) equality and 261.8% extension of wave (i) from wave (ii) low as labeled on the chart. Traders
