USDJPY: Limited Recovery Below 109.25 Levels…
As long as 109.25 resistance holds on a daily closing basis. The USDJPY remains on the downside. Support comes at 108.65 level. Below 108.65 restores the downside momentum and aims the 108.25 level, further down, support comes at 107.95 level ahead of 107.60 level.
On the upside, resistance comes at 108.95/109.25 levels. Above that level sees recovery threats to 109.85/110.30 levels.
In conclusion: The USDJPY continues to face downside threats below the 109.25 level.
Support: 108.65, 108.25, 107.95, 107.60, 107.20
Resistance: 108.95, 109.25, 109.85, 110.30, 110.75
Key data/events which may affect USDJPY today:
- Japan Services PMI (Jan) on Wednesday at 00:30 GMT. The forecast is to rise by 52.1, from 49.4 in the last month.
- President Donald Trump will deliver his third State of the Union Address on (Tuesday at 21:00 EST). (Wednesday at 02:00 GMT)…Live from here