USD/JPY chart - Trading View
USD/JPY consolidates its recovery above the 107 handle, trades 0.28% higher at 107.16 at around 06:45 GMT.
The pair is extending weakness after rejection at 200W SMA. 'Bearish Engulfing' on the weekly charts adds to the bearish bias.
Japanese parliament has approved the record JPY31.9 trillion second stimulus package to fight the economic blow from the coronavirus pandemic.
Price action has broken below 'Symmetric Triangle'. MACD bearish crossover on signal line adds to the bearish bias.
The pair is trading below 200-DMA and break below daily cloud will accentuate weakness.
Major Support: 106.44 (Cloud base)
Major Resistance: 108.40 (200-DMA)
