USDJPY (109.85): The USDJPY was seen extending the declines from yesterday. Price action broke past the 110.70 region of support with a strong bearish candlestick. On the 4-hour chart, the reversal coincides with the resistance level of 111.00 – 110.83. The declines could be extended to as far as 108.27 which marks the previously established support level around March 2017 and later in September last year. Any near term reversals could be seen to be short lived.
: The USDJPY was seen extending the declines from yesterday. Price action broke past the 110.70 region of support with a strong bearish candlestick. On the 4-hour chart, the reversal coincides with the resistance level of 111.00 - 110.83. The declines could be extended to as far as 108.27 which marks the previously established support level around March 2017 and later in September last year. Any near term reversals could be seen to be short lived.){kind=link}