USDJPY LONG SETUP

I've had a number of analysis in the past few weeks on USDJPY considering the higher timeframe and long term trend on the pair, but this week, i will like to keep it simple with the pair as we have a simple setup to follow until we've a breakout or switch in momentum.

The pair is in this range bond zone between 104.20 and 107.00 i've as well talked about in the past, i also noticed price is now forming up a kind of descending triangle with few lower highs inside the range bond zone, we saw rejection @104.20 support zone last week.

If the 104.20 hold as support as we go into the new month, maybe we will be making another lower high before we get a break out of the descending triangle i talked about, so that will set price higher with possible target at 105.50 zone.

WHILE a break below 104.20 support zone with retest holding will set price lower and it will possibly be a free fall till 101.00 support zone we've talked about in the past.