USDJPY appears to be well supported above 50% of 115.82 to 120.47 (118.14). Pair recently carved a higher low above 118.40 but highs remain capped under 23.6% (119.37). See break above 23.6 next week, continuation. Longs valid with stops below 50% or 118.40 (depending on your risk tolerance/trading style).