Yesterday the Greenback made a few attempts to break to the top through a combination of the weekly and monthly PP, but failed. For this reason, the Yen continued to appreciate in a descending channel.
Today, the pair 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.
