The USD/JPY pair is technically bearish, unable to advance beyond the 38.2% retracement of its March decline at 107.65, the immediate resistance, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “The USD/JPY 4-hour chart shows that moving averages gain bearish traction above the current level, and above the 107.65 Fibonacci level.” “Technical indicators remain within negative levels with modest bearish strength, still aiming lower and indicating further declines ahead.” “Support levels: 107.30 106.95 Resistance levels: 107.70 108.10” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: Bulls take a brief pause near 2-week old ascending trend-channel resistance FX Street 2 years The USD/JPY pair is technically bearish, unable to advance beyond the 38.2% retracement of its March decline at 107.65, the immediate resistance, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “The USD/JPY 4-hour chart shows that moving averages gain bearish traction above the current level, and above the 107.65 Fibonacci level.” “Technical indicators remain within negative levels with modest bearish strength, still aiming lower and indicating further declines ahead.” “Support levels: 107.30 106.95 Resistance levels: 107.70 108.10” Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
