After touching the resistance of the falling trend line on the daily chart, USDJPY pulled back from 108.47, suggesting that the upside movement from 104.44 had completed at 108.47 already.

Another fall could be expected over the next several weeks and next target would be at 106.50, followed by 104.00. Resistance is at 108.47, only a break above this level could trigger another bullish movement towards 110.00.