After breaching the strong support line of a dominant ascending pattern, the US Dollar on Monday morning had paused the decline against the Japanese Yen.
The reason for the pause of the decline was the combined support of a monthly pivot point and the weekly S1 near the 109.40 mark. The strength of the support levels might not be the main cause of the decline. Instead the decline of the Buck was already overextended prior to the meeting of the support levels.
Regarding the near term future, one needs to watch the mentioned support levels. If they get passed, the 109.10 mark, where the 50.00% Fibonacci retracement level is located at, will be targeted next.
