Daily Technical Outlook: USDJPY (Feb 9)
USDJPY is fluctuating below 112.55 broken support-turned-resistance, where the price dipped towards our first target at 111.65, but bounced again higher. Overall, the bias remains to the downside as long as below 113.50 over the near term. A break above 113.50 and the falling trend line for the bearish wave would bring back the positive bias.
Short term scenarios:
Bearish targeting 111.65 and 111.07. Risk limit above 113.50
Short term key support and resistance
112.00 111.40 111.00
112.55 113.50 113.85
Short term scenarios:
Bearish targeting 111.65 and 111.07. Risk limit above 113.50
Short term key support and resistance
112.00 111.40 111.00
112.55 113.50 113.85
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