Just to give another perspective for those who want to go long USD/JPY at this level.
USD/JPY has reached my weekly target to go short.
95.50 is where the bearish harmonic pattern in the weekly timeframe complete with nearly perfect symmetrical time period (52 week from Mar12high and 26 week from Sep12 low). This price target is where the following fibs numbers of weekly swing converge:
1) 2.618 extension of BC (Mar12 high to Sep12 low)
2) 2.00 extension of XA (Apr11 high to Oct11 low)
3) 95 is also the 3-year record high in May2010
Expect to see some significant correction in the weeks ahead if USD/JPY can't manage to close above 95 this week.
Nevertheless, going against this trend is extremely high risk trade especially with the non-farm payroll ahead.