USD/JPY holding near key support

USD/JPY holding near key support

USD/JPY is hovering around a key support area in the 105.68 level, which coincides with the Fibonacci level of 78.6%. There is a kind of double bottom pattern in formation that could allow more gains across the board and if the pair manages to resume the bullish structure, the next target would be the -23.6% Fibonacci area at 107.78. To the downside, the nearest support lies at 105.24, ahead of the psychological level of 105.00.

RSI indicator stays in the negative territory.



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