USDJPY Technical and Fundamental Analysis

The technical view of USDJPY depicted by the Daily Chart allows us to identify our monthly Horizontal BUY pressure and Horizontal SELL pressure further which eventually directs us to establish the overall market trend/flow.
From approximately september of 2019, we had identified our ascending consolidation pattern of Higher highs and Lower lows.
During the February 2020 period we saw the USD break out of that period of ascending consolidation, ultimately forming into a Bullish engulfing candlestick.
At the point of approximately @112.000, we saw price fail to break our previous high which concluded during the April trading session of 2019, and from there ultimately forming bearish exhaustion as SELL pressure was increasing, (Investors trading along a bear market by overselling).
Furthermore, price came declining towards our support level @108.000 which indicated our previous high, hence further declining past our mini consolidation period at approximately @106.000 causing additional investors to SELL the USD and BUY the YEN.
IF we have a confirmation of price surging back up to our support level @106.000 and breaking it we will be looking for a LONG position, however if it fails to do so, we will be looking for a rejection, or a pullback in price and potentially continue to short USDJPY.

Fundamentals:
Depicted by the Daily chart, we can see that the USD has failed to capitalize on upbeat NFP data, hence continues to trade in red near the 105.000 zone.
MAJOR EVENTS IMPACTING THIS CURRENCY PAIR AS OF THE 9/03/2020: JPY GDP (QoQ) (Q4): FORECAST = BEAR MARKET
MAJOR EVENTS IMPACTING THIS CURRENCY PAIR AS OF THE 11/03/2020: USD Core CPI (MoM) (Feb): FORECAST = BEAR MARKET
MAJOR EVENTS IMPACTING THIS CURRENCY PAIR AS OF THE 12/03/2020: USD Crude Oil Inventories, PPI (MoM) (Feb)