Slobodan Drvenica
Windsor Brokers
USD/JPY
The USDJPY remains constructive in early Monday after last week’s fall stalled on approach to daily cloud base and Friday’s bullish close, but recovery is still fragile and needs more evidence to confirm reversal.
Last week’s large bearish candle (the pair was down 0.7% for the week) weighs on recovery, along with bearishly aligned daily studies that keeps key 110 resistance zone (psychological, daily cloud top, converging 10/55/20 DMA’s) out of reach for now.
Daily cloud base (109.29) and July 19 spike low (109.06) offer solid supports, loss of which would risk deeper correction of 2021 uptrend (102.59/111.65).
Res: 109.82; 110.12; 110.36; 110.59.
Sup: 109.60; 109.29; 109.06; 108.56.
Interested in USD/JPY technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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