We recently anticipated correctly that $USD/JPY's Previous support around 108-108.20 would become resistance and that would drive price back towards the 105.50 area. $USDJPY Daily Chart(click to enlarge)Hammering at Support:- Price indeed came back down to the 105.50 area and is hammering at it.- I think eventually the market will give way. A break below 105.50 should open up the 100 mark. - Now, if 105.50 is broken, we should look at the 105.50-106 area as a possible resistance area. - If price does indeed hold under 106, then I would be more confident about the downside towards 100.