USDJPY: With USDJPY following through lower on the back of its Friday losses, it now looks for more downside pressure in the days ahead. Support lies at the 101.50 level where a break if seen will aim at the 101.00 followed by the 100.50 and then the 100.00 level. Further down, support stands at the 99.50 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 102.77.00 level where a breach will turn focus to the 103.50 level. Further out, resistance is seen at the 104.00 level and then the 104.50 level. On the whole, USDJPY remains exposed to the downside.
Agreed pretty much across the board.
We faded the rally from FRI NFP into the 103 level and have yet to cover as of today.
Trying to target that 101.20 zone and squeeze out as many points as possible.
Thanks for sharing.
May I ask- why do you prefer to use RSI over a similar indicator such as STOCH momentum?
