USD/JPY failed to break below 108.13 and rebounded from 108.26. A break above 110.94 key resistance could signal completion of the downside movement from 114.49, then another rise to retest 115.50 resistance could be seen. However, as long as 110.94 resistance holds, another fall to test 108.13 support is still possible. A breakdown below this level could take price to 106.50, followed by 103.60.

USDJPY daily chart

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