FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
USD/JPY remains under pressure. Momentum readings and the Tension Indicator (not shown) continue to weaken, highlighting fresh downside risks in the coming weeks.

A close below the 111.59 low of 7 February will confirm continuation of the December 2016 bear trend, with focus then turning to the 110.27 low of 22 November. Just lower is the 109.93 Fibonacci retracement , but any further slippage beneath here should stabilise towards the 107.85 retracement, as mixed background studies keep investors cautious.

A close above the 115.00 break level is needed to stabilise price action. However, any immediate bounce is expected to remain capped beneath here, as short-term studies also follow weekly readings lower.


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