USDJPY Daily Forecast Jul 10 2020

Dollar -Yen -896565653

USDJPY: Bearish Eyes The 106.45 Level…

As long as 107.35 resistance holds on a daily closing basis, the USDJPY remains on the downside to 106.45 level. A halt is likely, but a cut would open 105.83 level. At this point, I’d expect strong support from the 105.83/106.45 levels to contain a fall from 108.15, and bring rebound/ consolidation above this level before the next move. Anyway; below 105.83 sees a fall risk to 104.77 with a break below here opening the way to 103.05/102.25 levels.

On the upside, resistance comes at 107.00 level ahead of 107.35 (main). Above 107.35 sees upside threats to 108.22 where another fall is very likely…

In conclusion: The USDJPY faces downside threats below 107.35 levels…

Support: 106.45, 105.83, 104.77, 103.05, 102.25

Resistance: 107.35, 108.22, 108.75, 109.19, 109.68

USDJPY Daily Forecast Jul 10 2020Key data/events which may affect USDJPY today:
  • U.S Producer Price Index (PPI) at 12:30 GMT.