USDJPY - Technical Analysis: Monday, 01/08/2017 03:53 GMT

The USDJPY pair continued its decline to reach our main waited target at 109.90, noting that the continuation of the bearish bias and breaking the mentioned level will confirm heading towards the next correctional level at 107.83.

The price stability below 110.60 puts trades under negative pressure that makes us expect the continuation of the decline in the coming period, making the bearish trend expected on the short term basis, noting that surpassing 110.60 will stop the current decline and push the price to test 112.00 initially.