At 108.50 USDJPY
has made a bearish ABCD
pattern rally from the June lows and it is also the 0.382 retrace level from the November 2015 highs. I dont normally like drawing Fibonacci from interim levels but ... If we break back below the 200 day MA at 106.40 it will confirm.
The 200 week MA is resistance at the highs here also adding weight to the short idea.
My first target is 105 then 100.75