The $USDJPY has been falling sharply and is now testing a common support around $108. We can see this as support pivot going back to 2017.USD/JPY Daily Chart(click to enlarge)Subtle Bearish Sign:- USD/JPY has been essentially trading sideways since 2017. - But we did see price dip to almost 104.50 in early 2018.- Also, in 2019 the pair failed to rally to the consolidation resistance around 114.55.- The failure to reach the range resistance suggests bears might be in charge. - Thus I think after some possible "stickiness" around 108, price will fall towards the 104.55 2018-low. Investing.com suggests downside potential as well due to short-term yield spreads. Essentially the small carry-trade opportunity is even weaker now so there is not much upside for USD/JPY from the carry-trade perspective.The Yield Spread Albatross Around USD/JPY's Neck...The culprit, once again, is collapsing US yields. Short-term yield spreads are one of the strongest drivers of currency values. So far this year, Japanese 2-year yields have held steady in the -0.15% to -0.20% range for the past six months, meaning that the recent collapse in 2-year US treasury yields has decreased the US’s premium over Japan from above 3% in November just above 2% now....