- USD/JPY hit new 2-week lows at 101.20, bias lower.
- The pair is extending retrace from major trendline resistance below 61.8% Fib level.
- Techs support downside in the pair, we see clear Stochs rollover from overbought levels and RSI is biased lower.
- Major support levels - 101.41 (23.6% Fib), 101, 100.68 (Aug 2 low), 99.85 (trendline support).
- Major resistance levels - 101.52 (20-DMA), 102, 102.57 (38.2% Fib), 103.
Recommendation: Good to sell rallies around 101.70, SL: 102.20, TP: 101/99.85
