USD/JPY is trading in fresh 2-week lows around 106.75 on Friday. If the selling bias picks up extra pace, the focus of attention should be in the 106.00 neighbourhood, FXStreet’s Pablo Piovano briefs.
Key quotes
“On the downside, if 106.00 is breached on a sustainable fashion, then there are no relevant supports until the February-March sell-off to the vicinity of 101.00.”
“The 200-day SMA near 108.30 remains the initial near-term target in case bulls regain the upper hand and a strong risk-on sentiment returns to the markets. Further up is located the 110.00 neighbourhood. If cleared, this should open the door to a potential test of 2020 highs in the 112.00 region.”
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