FxWirePro: USD/JPY neutral near-term, scope for downward resumption
The USD/JPY pair declined on Tuesday as demand for safe-haven Japanese yen increased following U.S. Presidential debate. The major pair initially inched higher in the early US session towards 100.50 but slipped back to t…
The USD/JPY pair declined on Tuesday as demand for safe-haven Japanese yen increased following U.S. Presidential debate.
The major pair initially inched higher in the early US session towards 100.50 but slipped back to trade at 100.26 levels.
The short-term picture is still bearish as the resistance level at 101.69 is set to hold the bulls from advancing further above and push the pair towards lower levels in the short term.
Strong support can be seen at 100.00, a break below this level will expose the pair towards next support level located at 99.51 levels.
Immediate resistance can be seen at 100.68, a break above this level will open the gates towards 101.19 levels.
