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Short

USD/JPY hits new 2-week lows at 101.20, bias lower

FX:USDJPY   U.S. Dollar/Japanese Yen
333 0 9
USD/JPY             is extending retrace from major trendline resistance below 61.8% Fib level.

Techs support downside in the pair, we see clear Stochs rollover from overbought levels and RSI is biased lower.

Major support levels - 101.41 (23.6% Fib), 101, 100.68 (Aug 2 low), 99.85 (trendline support).

Major resistance levels - 101.52 (20-DMA), 102, 102.57 (38.2% Fib), 103.

Good to sell rallies around 101.70, SL: 102.20, TP: 101/99.85
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