USD/JPY
This pair dropped by 50 pips on May 29, testing the demand level at 109.00. The demand level would be tested again and get breached to the downside. There is now a Bearish Confirmation Pattern in the market (4-hour chart). There is a "sell" signal in the market, which would aid further southwards movement.
The bias on the market is currently bearish (since last week), and this may affect the long-term bullish bias, as the demand levels at 109.00, 108.50, and 108.00 are aimed for that there is a considerable stamina in Yen.
