Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
USD/JPY: 2-week channel under question
Information is not investment advice
The USD/JPY bounced down from the resistance of 107.90 at the upper border of the channel it has been in for the last two weeks. Currently at 107.43, it is testing the lower border of that channel, and bears already showed that they are ready to keep pressure. If that happens, the support of 107.07 will be the nearest target - watch the news as they keep weakening the USD across the board and against the JPY in particular. Otherwise, be careful with a possible turnaround as it already happened on May 20, 22 and 27.
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