On daily chart of USD/JPY pair we can see that price during declines since mid-December, respects both edges of the downward channel. Currently the course has reached the bottom edge, so in theory, you could expect an upward correction. Encourages also similar range of both decline movements. Previously growth correction came after similarly large decreases which are currently occurring.

At the H4 interval we observe a soft reflection from the lower edge of the channel. If corrective movement is developing then the main objective for the demand seems to be the local resistance at 110.20. Price reaching it would note a similar correction as in the end of March.

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