With USD/JPY being the trending pair in the forex market, we look at the technical charts for the cross, with Wilson Leung, Director, Trendsetter FX, who adopts a negative bias on the pair, expecting a move lower towards 108.20.

USD/JPY Technical Analysis: Daily Chart

Trade Setup: Target at 108.20, Sell on upticks with a stop loss 111.85.

USD/JPY: Weekly Chart

Leung remains Bullish on Yen and Bearish on the Dollar. He sees potential a test of the 38.2% retracement of the previous historic rise.

Watch the video for charts (daily,weekly) and a detailed outlook.


 

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