USDJPY recently reversed down with the Bearish Engulfing from the resistance area lying between the key resistance level 109.30 (top of the b wave from the start of April), upper daily Bollinger Band and the 61.8% Fibonacci retracement of the previous downward impulse from March. Given the powerful bullish yen sentiment seen across the markets today, USDJPY is likely to extend the losses toward the next support level 107.00 (low of the previous wave (b) from the end of May).