USDJPY Recovers With Caution…
The USDJPY remains in a recovery mode as long as 105.23 support holds on a daily closing basis. Resistance comes at 107.25 level. A halt is likely, but a break would open 108.80 next, further upside, resistance comes at 110.65 levels.
On the downside, support comes at 105.23 level. Below 105.23 sees limited losses to 103.05/102.25 levels where another rise is suggested. Anyway; below 102.25 will restore the downside momentum and aim the 101.17 levels.
In conclusion: The USDJPY sees recovery threats above 105.23 levels with caution…
Support: 105.23, 103.05, 102.25, 101.15
Resistance: 107.25, 108.85, 110.65, 112.00
- U.S Retail Sales Data (MoM) (Feb) at 12:30 GMT.