USDJPY Recovers With Caution…
As long as 104.60 broken resistance turned support holds on a daily closing basis. The USDJPY remains in a recovery mode and further upside couldn’t be ruled out. resistance comes at 106.20 level. A break will extend the corrective recovery to 108.80 level, further upside, resistance stands at 109.67 level.
On the downside, immediate support comes around 104.60 level. Below 104.60 sees fall threats to 102.80/101.50 before the next move. Below 101.50 will restore the downside momentum and aim 99.90 level.
In conclusion: The USDJPY sees recovery threats above 104.60 level with caution.
Support: 104.60, 102.80, 101.50, 99.90, 98.00
Resistance: 106.20, 107.50, 108.80, 109.67, 111.10