USDJPY – Daily Forex Technicals by ForexHound.com July 3rd

USDJPY has already retested the bigger trendline, former support now turned into resistance on the daily charts, and is now looking to move lower, first obstacle is the 105.50 area but once we clear that the road is clear for a bigger move towards the 102.5 level. USDJPY has already retested the bigger trendline, former support now turned into resistance on the daily charts, and is now looking to move lower, first obstacle is the 105.50 area but once we clear that the road is clear for a bigger move towards the 102.5 level. Conversely a failure to break the support will shift focus on the 107 level at least for the shorter timeframes.

Today’s eceonomic events that can have an impact on the way the pairs move. Focus is on the ECB followe by the NFP and unemployment rate in the US.

http://www.forexhound.com/calendar.cfm

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