USD/JPY continues to face further recovery pressure as it saw price extension on Monday. On the upside, resistance comes in at 108.50 level. Above here will turn attention to the 109.00 level. Further out, resistance stands at the 109.50 level. A cut through here will open the door for more gain towards the 110.00. On the downside, support resides at the 107.50 level where a break will target the 107.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 106.00 level. On the whole, USDJPY faces further bull threats in the days ahead.
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.
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