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USDJPY: Bearish, Weakens Further

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USDJPY: Bearish, Weakens Further

Postby FXTechstrategy » Tue Apr 04, 2017 12:30 pm

USDJPY: The pair declined further as it extended its weakness on Tuesday. On the downside, support comes in at the 110.00 level where a break if seen will aim at the 109.50 level. A cut through here will turn focus to the 109.00 level and possibly lower towards the 108.50 level. On the upside, resistance resides at the 111.00 level. Further out, we envisage a possible move towards the 111.50 level. Further out, resistance resides at the 112.00 level with a turn above here aiming at the 112.50 level. On the whole, USDJPY looks to weaken further.

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