USD/JPY signals another decline (near-term downside target according to the assumed rate) (point and figure)

As shown above, a down signal has occurred again in USD/JPY 120-minute frame 0.05 yen standard frame Point & Figure, and the target is calculated as 116.776 yen.

Also, in the daily chart 0.1 yen frame Point & Figure, as shown above, if the closing price drops below 117 yen, a down signal will occur.

Here, assuming the daily closing price falls below 117 yen

Using this function to calculate the expected downside target for the daily 0.1 yen standard frame, as shown above, the minimum value is calculated as 115.89 yen.

From the above, unless the resistance band around 117.9 yen is clearly surpassed, 115.89 yen is expected to be the near-term downside target.