USDJPY 2016-05-03

Posted on

USD/JPY

105.75

Market sustain drop below 106.60 which activated another drop pressure after U.S placed Japan in new currency watch list to prevent or watch any currency manipulation which open the way for the traders to sustain demand for Japanese Yen as safe haven careless about any intervention from BOJ

market now facing support zone at 105.15-25 which may be able to hit the market for rebound correction toward 106.60 or 107.60 before resume downtrend wave

below 105.00 market may enter new downtrend wave that may target 100.70

  Support Resistence
Level 1 105.15-25 106.60
Level 2 104.10 107.60-70
Level 3 103.55 108.50
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