USDJPY: Bearish Eyes The 104.60 Level…
The USDJPY remains on the downside as long as it holds below 106.20 level on a daily closing basis. Support comes 104.60 level. A halt is likely, it may turn higher from here. However; below 104.60 aims 102.80, further down, support comes in the 101.45 ahead of 100.00 level.
On the upside, resistance comes at 106.20 level. Above 106.20 sees limited recovery below 107.50/109.67 levels where another fall is very likely.
In conclusion: The USDJPY sees downside threats below 106.20 level…
Support: 104.60, 102.80, 101.45, 100.00
Resistance: 106.20, 107.50, 109.67, 110.67
Key data/events which may affect USDJPY today:
- U.S Nonfarm Payrolls (Feb) at 13:30 GMT.
- U.S Unemployment Rate (Feb) at 13:30 GMT.