USDJPY: Faces Pullback Threats…
As long as 110.20 resistance holds on a daily closing basis. The USDJPY remains in a pullback mode, and further down couldn’t be ruled out. But any corrective pullback below 110.20 should be contained well by 109.57/109.00 levels where a rebound is likely. Below 109.00 will suggest a large pullback…
On the upside, immediate resistance comes in the 110.20 levels. A sustained breakout – daily closing- above 110.20 will restore the upside momentum, aims the 110.75 level, further upside, resistance stands at 111.50 levels.
In conclusion: The USDJPY continues to consolidate below 110.20 levels.
Support: 109.57, 109.00, 108.50, 107.85
Resistance:110.22, 110.75, 111.50, 112.05
