Slobodan Drvenica
Windsor Brokers
USDJPY
The pair remains in red for the third straight day and hit marginally lower low on Friday at 112.02, pressuring strong support at 111.95 (Fibo 61.8% of 110.83/113.74 / 06 Dec low).
Break and close below 111.95 would generate bearish signal for further weakness towards next targets at 111.69/62 (100/200SMA’s) and would look for test of key supports at 111.02 (daily cloud base) and 110.83 (27 Nov low) in extension.
Wednesday’s long bearish candle continues to weigh, along with dovish Fed, keeping bias with bears.
Broken daily Kijun-sen which caps today’s action, marks initial resistance at 112.37, with extended upticks expected to remain under converged 10/55SMA’s at 112.80/84.
Res: 112.37; 112.66; 112.84; 113.09
Sup: 111.95; 111.62; 111.52; 111.02
Interested in USDJPY technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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