USDJPY - Technical Analysis: Wednesday, 17/05/2017 05:04 GMT

The USDJPY pair declined clearly yesterday to approach from our waited target at 112.00, which represents 38.2% Fibonacci correction level for the rise from 101.21 to 118.66, thus, breaking this level will push the price to return to the correctional bearish trend and head towards 109.94 as a next target.

Until now, we expect the continuation of the negative pressure in the coming period, unless the price managed to rally to the upside to surpass 114.54 level and settle above it.