A set of weak US fundamental data yesterday caused the USD/JPY pair to undergo another decline, with the two-week support line failing to hold the losses early morning today. The 109.00 level is now exposed, with the only significant support on the Greenback’s path being the monthly S1 at 109.22. However, the lower Bollinger band might also be a sufficient interim support, which could help the Buck remain afloat, but technical studies are unable to confirm that, as the daily signals are still distinctly bearish. A close in the red zone today would imply the end of the triangle pattern, while a recovery from the intraday low would mean the pattern’s apex is yet to be reached. A recovery is doubtful, as the are no certain market movers present today.
