FxWirePro: USD/JPY slips lower for 2nd straight session, recovery rejected at 21-EMA

USD/JPY chart - Trading View 

USD/JPY is extending weakness for the 2nd straight session, trades 0.20% lower at 06:55 GMT, after closing 0.29% lower in the previous session.

Earlier during the day, Japan’s Jibun Bank Manufacturing PMI rose past-45.2 to 46.6 for July. Further, Japan's National Consumer Price Index also recovered from 0.1% to 0.3% YoY in July.

U.S. dollar under pressure as earlier this week the minutes from the Federal Reserve’s July meeting dashed hopes for no-limit stimulus measures like yield curve control. 

Further, the dollar fell across the board in response to Thursday's dismal US weekly jobs data. USD/JPY is extending previous session's weakness.

Major and minor trend are bearish and rejection of recovery attempts at 21-EMA have reinforced downside.

Stochs and RSI are biased lower and RSI is below 50 supporting downside bias. Immediate support is seen at lower Bollinger band at 104.66. 

Further weakness can drag the pair to test July 31st low at 104.18 ahead of Channel base at 103.30.