On Friday, UsdJpy had a spectacular reversal with a rise of almost 200 pips. This puts in a BIG bullish engulfing on our daily chart and gives us reason to believe that 104 is bottom. Now the pair is trading close to 106 resistance and a correction is normal from here. Buy dips is my strategy for this pair and I expect 105 to be a strong bid zone. A break above 106 would expose 108 resistance