As expected, 108 proved to be strong resistance for UsdJpy and the pair confirmed that putting in a clear bearish engulfing here. The rise from 106 to 108 is a flag and I expect a new leg down in the next days. The pair is strongly bearish under 108 and rallies should be sold. The soft target can be 106 and a sell trade at 107.50 could have at least 1:2 R:R