As we advised on our last update back to April 10th we advised that market will face resistance zone around 107.90 that if managed to hold the market below another drop correction toward 105.00-50 zone will be expected
As we see over our chart USDJPY still holding trades below that resistance level 107.90 which may provide the chance for another drop to test 105.00-25 support zone
From 105.00-25 will expect another advance wave over short-run toward 110.50 while this model will show a drop risk if market broke below 104.60
From another hand if market managed to break above 107.90 before the expected drop correction this scenario may give the market more advance with risk of a drop correction from 108.60 or 109.25
| Support | Resistance | |
| Level 1 | 106.60 | 107.90 |
| Level 2 | 105.00-25 | 108.90 |
| Level 3 | 104.60 | 110.00 |
