The USD/JPY continued its rebound from 110.96 support during last week’s trading session but found resistance at 114.86. Initial bias this week is on the downside with 21 and 55 EMA crossed southward on the 4 hours time-frame. SSRC oscillator is also signalling a bearish momentum is expected in the pair. More fall to 110.96 low is expected first for a re-test. A confirm break of 110.96 support will bring more decline to 107.42/105.07 demand zones which happens to fall around 38.2 Fibonacci retracement 75.63 to 125.84.
Posted in: Latest Forex News– February 21, 2016