In case of further weakening of the USD and a breakdown of the local support level 109.25 USD / JPY will head towards the important short-term support level 109.12. A breakdown of this support level will provoke a deeper decline towards the support levels 108.86, 108.55, 108.00.
The breakdown of the support levels 106.95, 106.50 (ЕМА200 on the daily chart and Fibonacci level 23.6% of the correction of the pair's fall from the level of 125.65, which began in June 2015) will cause an increase in the downward impulse and direct USD / JPY towards more distant targets of decline 104.70 (lows of 2018), 102.30, 101.20 (2020 lows).
In the meantime, short positions are preferred below the resistance level of 109.40 (see also "Fundamental Analysis and Recommendations")
Buy Stop 109.70. Stop Loss 109.20. Take-Profit 110.15, 110.95, 111.70
Sell by market, Sell Stop 109.20. Stop Loss 109.70. Take-Profit 109.12, 108.86, 108.55, 108.00, 107.00, 106.75, 106.50, 106.00
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**) USD/JPY: Current Fundamental Analysis and Market Expectations
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