The recent decline of the US Dollar against the Japanese Yen is still being seen as a temporary junior move in the borders of a larger ascending pattern. However, on Friday the decline could have been mapped by using a rather medium scale descending pattern.
The Pattern was set to guide the currency exchange rate down to the combined support of the weekly pivot point near 108.75. Moreover, the pivot line was about to be strengthened by the lower trend line of the dominant pattern.
Most likely the rate would rebound against the just described support levels.
