FxWirePro: USD/JPY extends weakness ahead of ADP employment report, slips below 200H SMA

USD/JPY chart - Trading View 

USD/JPY extends weakness for the 2nd straight session, slips below 108 handle.

The major was trading 0.26% lower on the day at 107.59 at 04:30 GMT.

Price action failed to hold break above 21-EMA, dips below 5-DMA support.

Renewed US-China trade concerns-led risk-aversion, supporting the safe-haven yen.

While, US Treasury yields trading at the lowest level since Nov 2016 weigh on the Greenback.

The pair has breached below 200H SMA and technical indicators on the intraday charts are turning bearish.

Major trend is bearish and break below 61.8% Fib will see weakness. Next major support lies at 107 (lower BB) ahead of 106.31 (78.6% Fib).

Support levels - 107 (Lower BB), 106.31 (78.6% Fib), 106

Resistance levels - 107.92 (5-DMA), 108.13 (21-EMA), 108.52 (50% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.