USDJPY Daily Forecast Jul 31 2020

Dollar Yen 659685451236

USDJPY: Sees More Bearish Momentum Below 105.10 Levels…

The USDJPY remains on the downside as long as 105.10 resistance holds on a daily closing basis. Support comes at 104.65/104.15 levels. A halt is likely, but break-through support aims 103.55 levels. Further down, support comes in the 103.10 levels ahead of the 102.60 levels.

On the upside, immediate resistance comes in the 105.10 levels. Above 105.100 sees limited recovery to 105.70 where another falling is very likely. Above 105.70 extends the corrective recovery to 106.20 levels.

In conclusion: The USDJPY sees downside threats below 105.10 levels…

Support: 104.65, 104.15, 103.55, 103.10, 102.60

Resistance: 105.10, 105.70, 106.20, 106.65, 107.45

USDJPY Daily Forecast Jul 31 2020

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