USDJPY Outlook: What to look out for?

For now, we managed to see that USDJPY has reached the 361.8% fib level followed by some bearish movements. What we will like to see is a bearish closing to today's candle. This will signal a potential reversal which will be a confirmation candle for us. I will be seeing a potential bearish movement to the support level @118 price level. If price continue breaking towards the downside, we could potentially see price moving all the way back to 161.8% fib level. For now, I am leaning towards the BEARISH side for this pair.

Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!