USD/JPY is one step away from 100.00
On the daily chart USD/JPY keeps moving towards the lower border of the bearish trend channel. It corresponds to 127.2% of the "Shark" pattern target (98.00). Target of AB=CD at 224% mentioned in the previous article is reached. Look for resistance near 102.69.
On H1 USD/JPY the angle of the downtrend points at the strength of the "bears". The pair entered convergence area of 100.21-100.84. The break below these levels will open the way down towards 98. The nearest resistance levels lie at 101.82 and 102.68.