FX.co ★ USD/JPY analysis for December 05, 2019 - Broken beaar flag pattern, potential test of 108.44

USD/JPY has been trading sideways in past 24 hours at the price of 108.80. Anyway, I do expect more downside due to potential end of the upward correction (bear flag) and new momentum down on the oscillator. Downward targets are set at the price of 108.44, 108.28 and 107.92.

MACD oscillator did show the new momentum down in the background and it seems that it is ready for the new wave down. Slow line is in the negative territory, which is good sign for the further downside.

Resistance level is found at 109.00.