USDJPY – The downside remains at risk while daily Kijun-sen caps; key support at 115.05
|USDJPY
The downside remains vulnerable after yesterday’s limited upside attempts and close below daily Kijun-sen at 115.87.
Recent double top on daily chart (118.65/59) continues to weigh, with key supports at 115.05 (06 Jan correction low/Fibo 61.8% of (112.85/118.65 upleg) being under pressure.
Overall negative near-term studies support the notion.
Break and close below 115.05 pivot is needed to confirm reversal and trigger stronger correction.
On the flip side, daily Tenkan-sen marks the upper pivot at 116.82, break of which would neutralize downside threats.
Res: 116.33; 116.62; 116.82; 117.52
Sup: 115.65; 115.05; 114.71; 114.22
Interested in USDJPY technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.