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USDJPY: Weakens Further On Bear Pressure

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

USDJPY: With the pair selling off further on Thursday, further bearishness is likely. On the downside, support comes in at the 109.00 level where a break if seen will aim at the 108.50 level. A cut through here will turn focus to the 108.00 level and possibly lower towards the 107.50 level. Its daily RSI is bearish and pointing lower suggesting more weakness. On the upside, resistance resides at the 109.50 level. Further out, we envisage a possible move towards the 110.00 level. Further out, resistance resides at the 110.50 level with a turn above here aiming at the 111.00 level. On the whole, USDJPY looks to weaken further on bear pressure.


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This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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