USDJPY failed on three occasions to break above 107.00 last week, so it’s unsurprising to see the pair retreat as we start to the new week.
106.40/50 is the first support level on this retracement and it’s where we are opening this morning.
A break below 106.40 would open up a move to 105.80/106.00, where we would look to buy, certainly on the first attempt.
Otherwise, like much of the market, there is little in the day-to-day price action to suggest a major move in either direction and the summer dip in volumes is likely to last another week or so yet.
106.40/50 is the first support level on this retracement and it’s where we are opening this morning.
A break below 106.40 would open up a move to 105.80/106.00, where we would look to buy, certainly on the first attempt.
Otherwise, like much of the market, there is little in the day-to-day price action to suggest a major move in either direction and the summer dip in volumes is likely to last another week or so yet.
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