In the midst of bank holiday, the currencies are waiting for US data today. The USD/JPY, popular "Ninja" is in downtrend and it is targeting 108.35. If we see a retracement towards 109.30-45 POC, (W L5, D H4, 61.8, Order block, Historical sellers, EMA89) now moment sellers could wait and price should reject the price towards 108.72. If we don’t see any retracement to the upside, a momentum break of 108.70 could tank the price lower to ATR/L5 projection 108.35.

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