USD/JPY on its way to test a key demand area

USD/JPY on its way to test a key demand area

The USD/JPY pair is plummeting across the board after having strong resistance at the 107.28 level. Such move is helping to consolidate to the spot below the 200 SMA at H1 chart and it’s trying to gather momentum around the 61.8% Fibonacci zone. If a rebound happens over there, we can expect a rally to test the Fibonacci area of -23.6% at 107.77, while a breakout below 105.95 should expose the 105.68 level.

RSI indicator remains in the negative territory, close to the oversold area.



Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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