Ending of USD/JPY’s Decline
Pair's break of 110.80 resistance indicates that decline from 114.36 has concluded at 108.81. Trading is on the upside towards channel resistance. Steady breach in that area will suggest that the intact retreat from 118.65 has ended at 108.12. Following pivot points include: (S1) 109.81; (P) 110.39; (R1) 111.52.
Another surge might head towards 114.36 resistance. Breach of 108.81 will push the drop from 118.65 through the minimum of 108.12. Then, it will finish.
Price behavior from 125.85 high is considered as a correction. Actual movement proves that it keeps progressing. If deeper fall occurs, 61.8% retracement of 75.56 to 125.85 at 94.77 must fill the downside and cause recoil. Lift from 75.56 is likely to expand after conclusion of the correction.