Analysis on the USD/JPY

The USD/JPY has been a very volatile pair as of late. From the beginning of this month, the US dollar started to lose value against the yen, but up until the BOJ intervention on the local currency the pair drastically reversed and broke all major levels of resistance. With that being said, the pair did reach a high of 85.95, let's say 86.00. Once it tested such major resistance point, it failed to break through, then it started to retraced to the previous downtrend channel right before the intervention.

As shown below, the pair retraced/broke through the .25%, .38%, .50%, and .62% FIB levels accordingly which makes it clear that a continuation to the downside maybe coming in the near future unless the BOJ intervenes once again. (There're rumors that BOJ may intervene)

I could be looking at an entry around the 83.55 area(short) with possible targets near my .62% Fib Ext around 83.25 and eventually the .100% Fib Ext near 82.90. On the negative side of the trade as far as stop losses, there is major a resistance area above 83.95, possible 84.12 therefore I could be looking around this level to set any kind of stop losses.