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USD/JPY chart - Trading View
USD/JPY was trading 0.07% lower on the day at 06:25 GMT, after closing 0.55% lower in the previous session.
The major was consolidating break below 200-DMA, extending bearish run for the 4th straight session.
GMMA indicator shows major trend in the pair is neutral, while minor trend is turning bearish.
Stochs and RSI also support weakness. Price action has fallen below 200H MA. Further downside likely.
Market sentiment will likely continue to be the key driver. Retail sales and industrial production reports due Wednesday will be watched for further impetus.
Support levels - 106.92 (Apr 1st low), 106.44 (50% Fib)
Resistance levels - 1008.22 (5-DMA), 108.32 (200 DMA)
