Technical Analysis – USDJPY downside pressure eases on move above 100
Posted on August 22, 2016 at 8:48 am GMTIn the bigger picture USDJPY remains in a downtrend but the downside has paused as the market remains above the key 100 yen level. This level at 100 acts as a major support level, which if it is broken, there is scope to retest the 2016 low of 98.96 reached on June 24. A further decline from this level would accelerate a move down towards a key psychological level at 97.00 where there previously was some congestion around this area [..]