USDJPY recently reversed down from the combined resistance area lying at the intersection of the key resistance level 109.25 (which stopped the previous sharp upward waves (iv) and 1, as can be seen below), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse from April. Given the moderate bearish sentiment affecting the US dollar at the moment – USDJPY is likely to remain under bearish pressure and to fall toward the next support level 108.00 (low of the previous short-term correction 2 from the start of November).