USD/JPY trims early-Asian gains amid cautious sentiment. Keeps downside break of one-month-old horizontal support amid bearish MACD. Descending trend line since mid-November becomes the key resistance. USD/JPY stays below the monthly descending triangle while recently declining to 103.65 during early Wednesday. The yen pair seems to wait for the key US coronavirus (COVID-19) stimulus updates for fresh direction. Read: S&P 500 Futures print mild losses with eyes on US stimulus, Fed decision Technically, the pair’s sustained downside break of short-term support joins bearish MACD to keep the sellers hopeful. In doing so, November’s low near 103.15 and the 103.00 round-figure are on their radars. In a case USD/JPY bears remain dominant past-103.00, the return of March bottom near 101.20 can’t be ruled out. Meanwhile, corrective pullback beyond the immediate resistance line, previous support, around 103.65/70, can recall the 104.00 round-figure on the chart. However, any further upside will depend upon how well the USD/JPY buyers manage to defy triangle resistance, at 104.45 now. USD/JPY four-hour chart Trend: Bearish 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 We expect a Canada-style Brexit deal – Morgan Stanley FX Street 2 years USD/JPY trims early-Asian gains amid cautious sentiment. Keeps downside break of one-month-old horizontal support amid bearish MACD. Descending trend line since mid-November becomes the key resistance. USD/JPY stays below the monthly descending triangle while recently declining to 103.65 during early Wednesday. The yen pair seems to wait for the key US coronavirus (COVID-19) stimulus updates for fresh direction. Read: S&P 500 Futures print mild losses with eyes on US stimulus, Fed decision Technically, the pair’s sustained downside break of short-term support joins bearish MACD to keep the sellers hopeful. In doing so, November’s low near 103.15 and the 103.00 round-figure are… 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.
