USDJPY Looks To Cap Weakness At Key Support Zone

USDJPY: With the pair continuing to maintain its downside pressure, further bearishness is envisaged though with caution. However, as long as it can hold and trade above the 110.92/66 support zone, a move higher is likely. On the downside, support comes in at the 111.00 level where a break if seen will aim at the 110.50 level. A cut through here will turn focus to the 110.00 level and possibly lower towards the 109.50 level. On the upside, resistance resides at the 112.00 level. Further out, we envisage a possible move towards the 112.50 level. Further out,  resistance resides at the 113.00 level with a turn above here aiming at the 113.50 level. On the whole, USDJPY looks to recover higher off its key support zone.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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