The USD/JPY has been in a bearish zig-zag mode and at this point, it’s getting closer to the POC zone where it could reject. The trend is clearly to the downside.
106.60-75 is the zone where the price could reject but in that case, 107.15 should stay intact. Targets are 106.35 and 106.00. In the case of a strong bearish momentum after the channel break, we might expect 105.80. If the price falls without getting to POC zone, then traders should watch for any possible break of the channel as a continuation move.