After a brief return above 96 points, the pair plunged sharply last Friday. Return within 96 gave us the Sell Signal. This morning, the pair USD / JPY has just validated the breakout of the major support at 95 points, a key level for the medium term trend. This level corresponds to the line of stroke of a figure head and shoulders (ellipses on h4 chart).

We continue to advise short positions (selling) as 95.50 is resistance. The break of 94.50 will give a new sell signal and the course should then continue its movement towards 93.72.

In case of return above 95.50, we advise you to stay flat (neutral) between this level and 96.