USDJPY Analysis

UJ continued its downward momentum at the beginning of the week before hitting support of the ever important 200 SMA. The Friday candle closed leaving an inside candle formation and I'd love to see a trend continuation breakout to the downside into the area of the .786 Fib. But with the French elections on Sunday, we'll have to wait and see where the candle opens the new week for us before determining a long or short move. IF the charts indicate a move to the upside, we can look to take it back up to the top of the channel near the .382 Fib in the area of 112.460.