USDJPY couldn’t hold above 109.85 and fell after hitting 111. With the US 10-year bond rates testing back %1,60, USDJPY may continue its down move for a little more. But key support levels are on sight and the Spearman indicator has almost given a buy signal. USDJPY may turn towards the north as the price closes at 108.30 support. After that, a head&shoulders formation may be formed around 109.50 or we may witness another try over 109.85.
For downward moves, below 108.30, 107.46 level can become the next key support for USDJPY.