Drifts lower for the third straight session on Friday. Neutral set-up warrants caution for aggressive traders. The USD/JPY pair remained depressed for the third consecutive session on Friday and is currently flirting with a previous resistance, now turned support near the 108.50-45 region. The mentioned region coincides with the 50% Fibonacci level of the 112.40-104.45 downfall, which should act as a key pivotal point and help determine the pair’s near-term trajectory. Meanwhile, oscillator on the 4-hourly chart have been losing positive momentum but managed to hold in the bullish territory on the daily chart, warranting caution for bearish traders. However, sustained weakness below the said support now seems to accelerate the slide towards the 108.00-107.90 intermediate support en-route 100-day SMA – around mid-107.00s On the flip side, bulls are likely to wait for a decisive breakthrough the 109.00 handle – nearing the very important 200-day SMA – before positioning for any further positive move. Above the mentioned barrier, the pair seems all set to surpass intermediate resistance near the 109.30 region and 109.60-65 region and aim towards reclaiming the 110.00 psychological mark. USD/JPY daily chart 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 ECB’s Draghi: Governing Council stands ready to adjust all of its instruments FX Street 3 years Drifts lower for the third straight session on Friday. Neutral set-up warrants caution for aggressive traders. The USD/JPY pair remained depressed for the third consecutive session on Friday and is currently flirting with a previous resistance, now turned support near the 108.50-45 region. The mentioned region coincides with the 50% Fibonacci level of the 112.40-104.45 downfall, which should act as a key pivotal point and help determine the pair's near-term trajectory. Meanwhile, oscillator on the 4-hourly chart have been losing positive momentum but managed to hold in the bullish territory on the daily chart, warranting caution for bearish… 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.
