The USD/JPY pair inched down 0.01% to 109.73 continuing its decline from the one-year high of 110.97 reached during the previous week.
The market is bearish and warns for declines against 109.30 - 109.00. Any minor corrective rebounds trapped inside Tuesday’s downturn will remain setup for selloffs. A rally over 110.30 voids pressing bear forces. A close over 110.68 highlights a reversing turn to higher levels.