USD/JPY: daily update
USD/JPY formed a bearish candle yesterday and is down by 50 pips today. At the moment of writing the bears are trying to pull the greenback below 97.04/00 (Friday’s low, psychological level). Below this point USD will be extremely vulnerable for a decline to 96.50/40. There will be some support at 96.90 and 96.75. Resistance lies at 97.22/28, 97.65, 97.88.
Nikkei 225 closed down by 2.63% at 13,396.38. Japanese yen is bought as a safe haven.
Return above 98.60 will change the outlook to positive. Right now the pair looks under pressure. A return to 98.00 might be a chance for selling.
Chart. H4 USD/JPY