USDJPY under bearish pressure after the earlier downward reversal from the resistance area lying between the key resistance level 109.50 (which has been reversing the price from July), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse from April. The downward reversal from this resistance zone started the active short term corrective wave (ii). With the mild bullish Yen sentiment seen across the markets today – USDJPY is likely to fall further toward the next support level 108.50.