As we discussed earlier this week, USDJPY looks very bearish. Now we see one more bearish clue: confirmed breakout of a bearish flag pattern on hourly time frame.
With a strong rejection from its resistance, and consequence lower high, pair looks overwhelmingly bearish.
I expect a drop to lower price levels.
First goal - 103.58
P.S The price can go even lower. Apply trailing stop to catch a major swing move.