USDJPY – With the pair continuing to maintain below its key resistance at 124.57 level, a move lower should occur. Support resides at the 123.50 level with a turn below here aiming at the 123.00 level. A break will target the 122.50 level.
Further out, support comes in at the 122.00 level where a violation will aim at the 121.50 level. Conversely, resistance comes in at the 124.47/57 levels where a break will target the 125.00 level. Below here if seen will aim at the 125.50 level followed by the 126.00 level. On the whole, USDJPY remains exposed to the downside on corrective weakness.
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