USDJPY bear pressures re-energizing
Another more significant probe below the 200-day MA (now 101.71), to post a Friday, weekly close below here to signal a shift from a negative range theme to a more bearish tone.
This was confirmed by a break below the 101.42 swing low to signal a more bearish shift for further downside targets through month-end at the 100.80 (May) and 100.75 (2014) lows.
The risk through here with a better longer term top would then be to the psychological/ option/ retrace target at 100.00.
WHAT CHANGES THIS?
- · Above 101.85/90 eases bear risks; through 102.40 signals a neutral tone, only shifting positive above 102.80
Daily USDJPY Chart