Today, the pair USD/JPY is expected to continue to move towards the weekly S1 at 108.80, as the northern side contains too many barriers to allow the buck to recover. The only difference is that this time it seems that the channel has transformed into a falling wedge. However, this minor detail does not change the general projected direction for the pair. USDJPY went more complex, but still corrective from the 110.67 high. It's an overlapping decline with an open gap at 110.20, so we definitely expect a bounce this week, while price is above 108.25.