USDJPY: With USDJPY weakening further on Wednesday, it faces additional bear risk. On the upside, resistance resides at the 102.50 level.
A break of here will expose the 103.01 level where a breach will create scope for a run at the 103.50 level. Further out, resistance is seen at the 104.00 level and then the 104.50 level.
Conversely, support lies at the 101.50 level and then the 101.00 level. A break if seen will aim at the 101.50 followed by the 100.72. On the whole, USDJPY remains exposed to the downside medium term.
Guest post by FX Tech Strategy
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