USDJPY - signals turning for a temporary profit taking pullback

​This week's bullish signals for USDJPY have been confirmed, investors buying the market above the key daily averages and posting a 3rd higher daily low & high in a row on Thursday. However, yesterday's signals were more cautious, pointing to staying square on the open and to selling the rally at a weekly bear trend. This trend did in fact attract sellers, though with sentiment closing the day little changed overall. Selling in Asia however has ended a sequence of higher daily lows and with signals remaining bearish the outlook for Friday is to sell on the open and then at 112.14, today's Asian high with a stop loss at 112.50. Targets are to 111.46, Tuesday's low, 111.13, this week's base and 110.75, last week's low trade.