With markets in a pause mode after the volatile and sharp losses to equities last week, the USD/JPY finds itself in an interesting place with a decision to make about where to go next. The pair found support at 101.75, which was a pivot from early December and is likely where there are some cluster of buy orders (as well as stops for longs).Currently the pair tests another pivot at 103.35, which had acted as resistance in the first half of December, and is where prices found resistance this week. At the same time, there's also an upward sloping trendline connecting 2 important lows, which was cracked and is now perhaps a level that could be resistance as well. Therefore, if the pair pops above this 103.35 level, then I can see it moving towards 104.80, the previous high from Thursday, as well as a downward sloping resistance trendline. However, if the pair is unable to move above the resistance at 103.35 then, its likely that it will move back towards 101.75.If it does so with renewed vigor, then that level may give way, which would accelerate the downswing as stops would get triggered and bears pile in. Somehow, I don't see that scenario yet, unless we get some new catalyst that triggers further risk aversion.Somehow,