USD/JPY – eyes falling channel floor

FX:USDJPY   U.S. Dollar / Japanese Yen
USD/JPY             pair finally breached 100.71 – 50% Fibonacci retracement level of 2011 low – 2015 high – thus ending a 10-day consolidation in the range if 100.71-102.50.

Consequently, we are likely to see the pair breach 100.00 levels and move towards falling channel floor seen around 98.50 levels.

On the higher side, only a day end close above 102.50 would suggest short-term bearish invalidation.
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