HomeContributorsTechnical AnalysisUSDJPY Outlook: Bears Pressure Pivotal Supports At 110.64/51 And May Extend To...

USDJPY Outlook: Bears Pressure Pivotal Supports At 110.64/51 And May Extend To 110.00 Zone On Break

The pair remains in red for the sixth straight day and extends pullback from 113.17, where larger bulls were capped by weekly 200 SMA.

The dollar was additionally pressured by positive tone from US/EU trade talks and fresh weakness attempts at strong supports at 110.64/51 (50% of 108.11/113.17 / rising 55SMA) clear break of which would trigger further bearish extension towards strong supports at 110.00 zone (200SMA / Fibo 61.8% / daily cloud top).

Weak daily techs support negative outlook, however, risk of extended consolidation / bounce exists, as slow stochastic is oversold.

Broken 30SMA (111.01) should ideally cap, with stronger upticks to stall under broken 20SMA (111.42) to keep bears intact.

Res: 111.01, 111.42, 111.84, 112.18
Sup: 110.51, 110.10, 109.92, 109.77

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