USDJPY currency pair recently reversed down from the resistance area located between the pivotal resistance level 105.700 (which has been reversing this currency pair from the middle of October as can be seen from the daily USDJPY chart below) and the upper daily Bollinger Band. The downward reversal from this resistance area created the daily Shooting Star – which started the active corrective wave (ii). Given clear daily downtrend and the strongly bullish us dollar sentiment seen across the FX markets today – USDJPY is likely to fall further toward the next support level 104.300 (former resistance from January and the target for the completion of the active wave (ii)).