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.