FxWirePro: USD/JPY finds major trendline support at 100.10, weakness only on break below
USD/JPY edges higher to hover around 101 handle after testing session lows of 100.70. Technical studies are inconclusive, a decisive break above hourly 100-SMA at 101.14 could see upside gain traction. We then see scope …
USD/JPY edges higher to hover around 101 handle after testing session lows of 100.70.
Technical studies are inconclusive, a decisive break above hourly 100-SMA at 101.14 could see upside gain traction. We then see scope for test of 102.50 (trendline).
Weekly charts have a bearish bias. Break below major trendline support at 100.10 could see downside upto 98.78.
Markets focus on BOJ’s Kuroda speech scheduled later in the day where he is widely expected to defend last week’s decision.
Major support levels - 100.70 (session low), 100.10 (trendline), 100, 99.54 (Aug 16 low), 98.78 (June 24 low)
