The USDJPY surged higher last week and we can see that price has now moved significantly higher following the 1 hour pin bar buy signal that we discussed back in our October 15th commentary. Anyone who held that trade would be up a very nice profit now. The trend is obviously still up in this market and we will continue watching for price action buy signals on any retraces back to support in the coming days. Key resistance is coming in up near 110.00 area and this level could cause price to rotate significantly lower again if it tests it in the coming days.