USDJPY May 02 to May 06 Outlook

Recap
Weaknesses continue as expected. First try testing Y-0 failed leading to new low for the week. The w. spring type action still fail to take the pair to close above Y-0 on 4 hour bar basis. Closed the week at the low.

Outlook
The spike up was classic short squeeze at important support zone. That however do not guarantee that the trend can really reverse. More weaknesses is expected. A flush to below 80 will tell if real support exists at all at the year low zone.