USD/JPY – Sell the daily close below 112.61

FX:USDJPY   U.S. Dollar / Japanese Yen
Despite the pair’s rebound from the descending trend line support last Friday, the subsequent failure at 113.78 earlier this week followed by a retreat to 112.70 today has set falling tops formation.

A daily close below 112.61 (last Friday’s low) would mark falling bottom and open doors for a test of 111.90 – 111.61 levels.