USDJPY Under Pressure , Resistance 98.19 !

The USDJPY continued its bearish momentum yesterday , topped at the 98.19 and bottomed at the 97.15 levels, losing the 97.15 levees will add strong bearish momentum to the pair , If seen , It may expose the 96.56 levels, below this level will target the 95.80 levels, further out will aim the 93.78 levels.

On the upside , resistance is at the 98.19 levels, to reverse risks to the upside, the pair will have to break and hold above the 98.19 levels on a daily closing basis, If seen , It will target the 99.00/99.33 levels, where a breach will turn focus on the 100.66/100.86 levels.

Overall, the pair will remain biased to the downside with risk towards the 96.56 ahead of the 95.80 levels as long as 98.19 holds.

Support and Resistance : 90.78 , 93.78 , 95.80 , 96.56 , 97.15 , 98.19 , 99.01 , 99.33 , 100.66 . 100.86 , 101.51 , 103.73

Recommendations : Short after rejection below  98.19 levels or  buy after rejection above  98.19 levels.

 

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