USD/JPY: 107.80 on the focu

USD/JPY: 107.80 on the focu

USD/JPY has been favored by the bulls across the board, but it started to lose steam around 109.53, where a strong resistance was found. That’s why we would like to stick with the idea of a corrective move that could go towards the 200 SMA at 108.20, where is located the Fibonacci level of 50%. A rebound around such area could take the pair to test the -23.6% Fibo zone at 110.16 as the main target to the upside.

RSI indicator remains in the negative territory.



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