We remain bearish below major resistance at 111.43 (Fibonacci retracement, horizontal overlap resistance) for a further push down to 110.21 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a bearish exit made signalling that we should be seeing further bearish movement.
Correlation analysis: We're expecting general JPY weakness, so we need to exercise caution on USD/JPY's drop.
Sell below 111.43. Stop loss at 112.13. Take profit at 110.21.
