There are no major economic reports in Japan but the US will release Pending Home Sales.
The support rests at 106.650 with resistance at 108.420 which both lines are below the weekly pivot point at 109.150. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
To complete the correction pattern USDJPY is targeting level 50 of Fibonacci at 106.450.
