The USD/JPY is trading in the red and looks determined to resume the corrective phase, is trading right above the 110.50 level, but should touch the 109.50 very soon.
Personaly, I believe that the Yen will dominate the currency market in the upcoming weeks as the Nikkei could drop much deeper after several false breakouts above the 20058 major static resistance. JP225 is expected to approach and reach the 19700 level, a valid breakdown below this obstacle will open the door for more declines.
USD/JPY should reach the 50% retracement level and the warning line (wl1) of the former ascending pitchfork.
