USDJPY: Faces Corrective Pullback Threats!
As long as 110.15/109.72 resistance holds on a daily closing basis. The USDJPY sees corrective threats to 109.17/108.90 levels. A halt is likely, it may consolidate above that level. Anyway, below 109.17/108.90 will extend the corrective pullback to 108.38 levels. Further weakness, aims the 107.95 levels ahead of 107.48 levels.
Note that stability above 108.90 may bring consolidation within 109.00/110.00 range…
On the upside, above 109.72 will challenge 110.15 levels. A halt is likely, it may test 109.72 before attempts to break higher. However; above 110.15 aims the 110.75 levels. The next resistance comes at 11.45 levels ahead of 112.00 levels.
In conclusion: The USDJPY remains exposed to the downside below 110.15/109.72 levels.
Support: 109.17, 108.90, 108.38, 107.95, 107.48
Resistance: 109.72, 110.15, 110.75, 111.45, 112.00