Slobodan Drvenica
Windsor Brokers
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
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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