The pair USD/JPY continues to pressure the downside and could further strengthen its decrease.
In fact, after the new failure on the resistance of 111.60, USD/JPY resumed the downside, to get back near the support of 110.75 to the weekly close of Friday.
Has the re-opening this night, the pair accelerated to the downside, to mark a low of 110.30, before rebounding slightly.
The rebound, however, remains for the time being blocked below 110.75, and the decline may resume if it breaks again below 110.50.
The next targets to the downside would be then to 110.10, 109.70 and 109.10/00.
Conversely, if the pair bounces back, a rise above 110.75 could encourage a movement towards 111.00 and 111.30, before you eventually find the 111.60.
The pair USD/JPY is currently trading at 110.53 on the Forex.
Chart USD/JPY H1