USDJPY: Weakens, Remains Vulnerable

10 August 2016, 14:00
FXTechstrategy
0
36
USDJPY: With the pair closing lower on Tuesday and extending it on Wednesday, more weakness should build up. On the downside, support comes in at the 101.00 level where a break if seen will aim at the 100.50 level. A cut through here will turn focus to the 100.00 level and possibly lower towards the 99.50 level. On the upside, resistance resides at the 101.50 level. Further out, we envisage a possible move towards the 102.00 level. Further out,  resistance resides at the 102.50 level with a turn above here aiming at the 103.00 level. On the whole, USDJPY looks to weaken further.

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