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USD/JPY chart - Trading View
USD/JPY trades rangebound at 107.26 at around 09:20 GMT, bias remains bearish.
The pair is extending sideways grind for the 3rd straight session. Holds support at daily cloud.
Data released earlier today showed Japan’s preliminary export data plummeted 28.3% versus -17.9% expected and -21.9% prior.
Exports plunged for the 17th month while also marking the steepest fall since October 2009.
The pair largely ignored poor data and the Japanese yen remains bid amid mounting fears of the second-wave of coronavirus globally.
Price action is below 200-DMA and break below cloud will plummet prices. Little support till lower BB at 106.44.
Major Support: 107.22 (5-DMA)
Major Resistance: 107.65 (21-EMA)
