USDJPY extended its downside movement from 109.48 to as low as 108.23, breaking below 108.64 support. As long as the price is in the falling channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 107.88 support. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 108.23 already, then next target would be at 109.00, followed by 109.48.
