The support level described on Wednesday did not manage to hold its ground. As a result one can spot a large, red hourly candle on the USD/JPY currency pairs charts. Although, the sudden drop was stopped by a medium scale pattern’s lower trend line, which on Thursday was acting as a resistance.
Meanwhile, the large scale descending channel was once more adjusted, as its exact borders have been mysterious during this week.
However, most attention should be given to the newly spotted channel down pattern, which might guide the pair lower. That would occur after a resistance cluster is met just below the 107.00 mark.
