The US Dollar has been getting beat up. We have been following the $USDJPY descent. We correctly anticipatedshort-term support around 105.50. We were also right to be cautious and anticipate resistance from the previous support area. USD/JPY Daily Chart (click to enlarge) Bears in Control:- We said that if USD/JPY holds under $110, it still looks bearish.- Price held under $108 and completed the 2/22 session with a bearish engulfing pattern.- This shows that bears are still in charge.- If price does push back to 105.50, we should not rely on it for support.- Instead, don't be surprised if price eventually falls back to the common support around $100.