USD/JPY

The pair drifted to the 7-week low. In yesterday's session, the pair hit the 50-week Sma and 200-day Ema. However, it managed to close above that. The pair had the last support level at 100.75. We can make it round figure at 100.0 mark. We can expect a steep fall below 100 mark for new lower targets at 99.5,98.6, and 97.80. On the upside, the pair was rejected twice at 200-month Ema and started drifting. The pair has a strong resistance at 101.93 (20-week Sma). The weekly momentum still favors selling.

The pair opened its session with a highly bearish phase opened higher. The pair favors to safe buy only above 101.35. If the pair breaches resistance at 101.35, it can fly up to 101.55, 101.66, and 101.85. The pair is trading below the hourly moving averages. On the down side, the pair had strong support at 101.03 levels. Yesterday, it made a low at 101.07. Safe traders can buy above 101.35. We can see strong momentum above 101.45 for 101.60 and 101.80 levels on an intraday basis. The hourly momentum oscillators indicate the oversold level.

Risky traders can buy in a panic situation at 101.03-100.80 levels with sl 100.75 levels.