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USD/JPY Outlook: Hourly Studies Positive

USD/JPY Outlook: Hourly Studies Positive


The pair recovered over 38.2% of 100.60/98.44 fall, as bounce from 98.44 filled Monday’s gap and reached so far 99.35, with 99.00, now acting as immediate support. Hourly studies turned positive and see potential for further recovery. However, weak 4-hour conditions see regain of 99.96, 13/09 lower top, required to sideline downside risk towards 98.25/00 targets and open levels above 100 barrier instead. Resistance: 99.35; 99.52; 99.77; 99.96

Support: 98.44; 98.25; 98.00; 97.70


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