USDJPY slid in the intraday levels and short term trading, after the pair breached the support of a negative technical pattern that formed previously in the medium term, the Descending Triangle pattern as shown in the attached chart, with complete dominance of the main downward trend in the medium and short terms, coupled with ongoing negative pressure from the SMA for the last 50 days period.

Therefore we expect more losses to come for the pair, targeting the support of 107.00 as a price target for that forming technical pattern.

Trend Bearish