USD/JPY's Upside Impulse
The pair lacks upside impulse after meeting 110.84 level. Trading is now neutral. Price behavior from 111.39 is transforming into a corrective pattern. Under 109.18, the corrective pattern might be finished. Following pivot points include: (S1) 110.12; (P) 110.49; (R1) 110.70.
Over 110.84, a repeat test of 111.39 level will be aligned. Breach will expand the intact recoil from 104.62.
The corrective fall from 118.65 should have finished at 104.62. USD/JPY is restricted inside of medium term falling channel from 118.65. Firm breach of 61.8% retracement of 104.62 to 111.39 at 107.20 will extend the decrease from 118.65 through the minimum of 104.62.