USDJPY currency pair recently reversed down from the strong resistance zone lying between the key resistance level 109.800 (which has been reversing the pair from the middle of April – as can be seen from the daily USDJPY chart below), 61.8% Fibonacci correction of the ABC correction (2) from March and the upper daily Bollinger Band. Given the strongly bullish yen sentiment seen across the currency markets today – USDJPY currency pair can be expected to fall further toward the next support level 108.500 (low of the previous correction 2).