USDJPY Daily Forecast Jul 24 2020

Dollar Yen 98655as

USDJPY: Bearish, Sees Further Weakness…

The USDJPY remains on the downside as long as 107.45 resistance holds on a daily closing basis. Support comes at 106.63 levels. It may hesitate around here, but cut-through support aims the 106.20 level, further down, support stands at 105.68 level ahead of 105.10 level.

Medium-term forecast: The pair may bottom around 106.20 levels…

On the upside, resistance comes in the 107.45 levels. Above 107.45 sees recovery threats to 107.85 levels, further upside, resistance comes in the 108.40 levels ahead of the 109.10 levels.

In conclusion: The USDJPY sees downside threats below 107.45 levels with risk to 106.20 levels. Above 107.45 sees recovery threats to 107.85/108.40 levels…

Support: 106.63, 106.20, 105.68, 105.10

Resistance: 107.45, 107.85, 108.40, 109.10

USDJPY Daily Forecast Jul 24 2020

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