This pair reacted the way we expected, breaking the resistance to test the supply level at ¥108 and breaking again to the downside. The clue for this prediction was the sequence of impulsive swings with low volatility to the upside.

Now my expectation would be for price to make a correction down to the ¥107.40 area where we have a demand level and a nice structure support.

This might set the escenario for a bullish continuation, which is my preferred scenario. If price does not respect this area, we might see new lows forming and impulsive moves down.

Happy trading!