Technical analysis:
USD/JPY has been trading downwards at the price of 108.80 but I see potential lfor the rally..
Trading recommendation:
Watch for potential buying opportunities on the pullbacks with the upside targets at 109.30 and 109.45.
There is the breakout of the well defined downside channel and the shakeout in the background, which is strong sign that buyers are taking control.
Stochastic is showing oversold condition and potential for the rally....
Support levels are set at 108.85 and 108.50