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USDJPY: Bearish, Sees Price Weakness

USDJPY: With USDJPY following through lower on the back of its Wednesday weakness on Thursday, further downside pressure is likely in the days ahead. On the downside, support comes in at the 122.47 level where a break will target the 122.00 level. Below here if seen will aim at the 121.50 level followed by the 121.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 123.50 level with a turn above here aiming at the 124.00 level. A break will target the 124.50 level. Further out, resistance comes in at the 125.00 level. On the whole, USDJPY remains exposed to the downside on pullback.

USDJPYproDaily

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