USD/JPY continues trading downwards after breaking the major support area at 116.00.
Fibonacci applied to the first corrective wave after the support breakout shows that pair broke below the 161.8% retracement level and did not teste next support at 261.8%.
Consider selling USD/JPY while price is near the 107.00 psychological resistance, targeting the S1 (104.90) support. Stop loss should be well above 108.00.
Support: 104.90
Resistance: 108.60
