USDJPY slid in the intraday levels, breaching the support of the ascending price channel that limited the pair's previous movements in the short term and intraday levels as shown in the attached chart, with ongoing negative pressure from the SMA for the last 50 hours period, and the overall guidance of the main downward trend in the medium and short terms. the pair then ended its upside correctional wave, which threaded through that price channel.

Therefore we expect the pair to drop in the coming trading, targeting the support of 111.35 again.

Trend Bearish