USD/JPY Outlook Remains Lower Towards The 106.75 Area

Forex Trades • Sep 24, 2019 at 2:12 PM EDT

USD/JPY outlook remains lower towards the 106.75 area, its key support. On the upside, resistance comes in at 108.00 level. Above this level will turn attention to the 108.50 level.

USD/JPY outlook remains lower towards the 106.75 area, its key support. On the upside, resistance comes in at 108.00 level. Above this level will turn attention to the 108.50 level. Further out, we expect a possible move towards the 109.00 level on a break of that area, A cut through here will open the door for more gain towards the 109.50.

On the downside, support lies at the 107.00 level where a break will target the 106.50 level. Below that level will turn focus to the 106.00 level and then lower towards the 105.50 level. On the whole, USD/JPY faces further downside pressure.

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