USD/JPY FULL ANALYSIS: Signs to short the pair.
TECHNICALS:
Daily: Strong resistance formed at 108.00 round-number, aligning with the 38.2% Fib level.
1-Hour: Strong selling pressure overnight after a gap to the downside. 107.85 (daily high) remains a short-term resistance.
FLOWS: JPY bullish, USD bearish
RISK SENTIMENT: Mixed
NEWS THEMES: US protests and Japanese new monetary stimulus could support a weaker USD/JPY
CORRELATIONS: Nikkei points up, yields point down. Mixed at the moment.
Daily: Strong resistance formed at 108.00 round-number, aligning with the 38.2% Fib level.
1-Hour: Strong selling pressure overnight after a gap to the downside. 107.85 (daily high) remains a short-term resistance.
FLOWS: JPY bullish, USD bearish
RISK SENTIMENT: Mixed
NEWS THEMES: US protests and Japanese new monetary stimulus could support a weaker USD/JPY
CORRELATIONS: Nikkei points up, yields point down. Mixed at the moment.
