USD/JPY remains below 21-DMA, near-term key horizontal resistance. Recent low, nine-week-old support-line limit immediate downside. Not only multiple failures to cross a two-month-old horizontal area but sustained trading below 21-day simple moving average (DMA) also portrays the USD/JPY pair’s weakness as it makes the rounds to 105.75 during early Tuesday. While 105.00 can act as immediate support, latest bottom and a nine-week-old falling trend-line, near 104.50/45, restricts pair’s further declines. In a case where prices keep trading southwards past-104.45, bears might not hesitate to target late-2016 lows surrounding 102.50. Alternatively, 21-DMA level of 106.45 and 106.77/80 confine the pair’s near-term advances, a break of which can propel prices to July month low of 107.21 and then to 38.2% Fibonacci retracement of a downpour since late-April, around 107.50. USD/JPY daily 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 RBA’s Debelle: Floor for rates is likely around zero to 0.5% FX Street 4 years USD/JPY remains below 21-DMA, near-term key horizontal resistance. Recent low, nine-week-old support-line limit immediate downside. Not only multiple failures to cross a two-month-old horizontal area but sustained trading below 21-day simple moving average (DMA) also portrays the USD/JPY pair's weakness as it makes the rounds to 105.75 during early Tuesday. While 105.00 can act as immediate support, latest bottom and a nine-week-old falling trend-line, near 104.50/45, restricts pair's further declines. In a case where prices keep trading southwards past-104.45, bears might not hesitate to target late-2016 lows surrounding 102.50. Alternatively, 21-DMA level of 106.45 and 106.77/80 confine the pair's near-term… 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.
