Yen Downtrend

The USDJPY is already in a downtrend and is being supported by further weakness on the daily chart with a breather fib level and on the 60 minute chart by the 200 MA resistance. XTL is red and if the downtrend continues we should have 105.50 in our sights. Of course all this is also dependent on NFP. The first chart below is a weekly followed by a daily.

Charts courtesy of Advanced Get. Data provided by eSignal.

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Forex Team