Daily Technical Strategist On USDJPY
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USDJPY: Hesitates Ahead Of The 107.52 Level.
USDJPY: Trouble is now looming ahead of the 107.52 level as USDJPY is now facing bear threat. If it closes lower on a negative candle, it would have ended its recovery and turned risk lower. On the downside, support comes in at the 106.00 level where a break if seen will aim at the 105.50.00 level. A break if it occurs will aim at the 106.00 followed by the 105.00. Conversely, resistance resides at the 107.50 level where a break will target the 108.00 level. Further out, resistance comes in at the 108.50 level where a violation will aim at the 109.00 level. On the whole, USDJPY remains exposed to the downside short term.