USD/JPY
1st support - 106.50 (major)
1st resistance - 109.60 (major)
2nd support - 105.55 (moderate)
2nd resistance - 110.70 (moderate)
USD/JPY (last 107.70): The pair, as shown on a daily chart, remains on the downside after reversing course rapidly at the 112.00 level. The short-term outlook has turned bearish as the key support at 109.30 has been breached. Currently the pair is around the lower Bollinger band, calling for acceleration to the downside. Unless the key resistance at 109.60 is surpassed, the pair should fall toward 106.50 and 105.55 on the downside.
1st support - 106.50 (major)
1st resistance - 109.60 (major)
2nd support - 105.55 (moderate)
2nd resistance - 110.70 (moderate)
USD/JPY (last 107.70): The pair, as shown on a daily chart, remains on the downside after reversing course rapidly at the 112.00 level. The short-term outlook has turned bearish as the key support at 109.30 has been breached. Currently the pair is around the lower Bollinger band, calling for acceleration to the downside. Unless the key resistance at 109.60 is surpassed, the pair should fall toward 106.50 and 105.55 on the downside.
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