Home USD/JPY vulnerable to the downside

USDJPY: The pair remains trapped in a range as it looks to create directional moves.  This development leaves it vulnerable to the downside possibly towards the 101.27 level.

Below here will expose the 100.75 level with a violation aiming at the 100.00 level and subsequently the 99.50 level.

Its daily RSI is bearish and pointing lower suggesting further decline. On the upside, resistance resides at the 102.62 level.

A cut through here will aim at the 103.00 level and then the 103.50 level, its psycho level. On the whole, USDJPY faces downside pressure on correction.

USDJPY

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FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.