- USD/JPY has edged higher from session lows at 110.00 and is currently trading at 110.17.
- Momentum studies are bearish on daily charts and we see scope for test of channel base at 109.30.
- Violation at channel base would open doors for a steeper slide towards 108.80 (June low).
- Price has broken below weekly 50-DMA at 110.42 and 38.2% Fib retrace of 98.787 to 118.662 rally at 111.07.
- Bearish invalidation only on decisive breakout above weekly 20-DMA at 111.25.
Support levels - 110, 109.30 (channel base), 109, 108.80 (June lows)
Resistance levels - 110.42 (weekly 50-SMA), 110.71 (5-DMA), 111.07 (38.2% Fib retrace of 98.787 to 118.662 rally)
Call update: Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-hits-fresh-6-week-lows-at-11030-geopolitical-tensions-keep-yen-buoyed-827929) has target 1.
Recommendation: Stay short for 109.30.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest.


FxWirePro- Woodies pivot (Major)
FxWirePro: NZD/USD retreats as Middle East instability weighs
FxWirePro- Major Pair levels and bias summary
AUDJPY Bears Poised: Sell Rallies at 111.55 for 108 Target with 112.20 Stop
FxWirePro: EUR/ AUD neutral in the near term, scope further downside
FxWirePro: EUR/AUD slips after surprise U.S. employment data
EURGBP Bears Break Trendline: Sell Rallies at 0.8578 as Support Breach Eyes 0.8450 Slide
FxWirePro- Major Crypto levels and bias summary
EUR/USD Rockets Past 1.1560 as Soft U.S. Jobs Data Fuel Fed Rate-Cut Surge
FxWirePro: USD/CNY slips as strong China exports data Lift yuan
FxWirePro : EUR/NZD slips lower after soft US jobs report
FxWirePro: GBP/USD eases as dollar firms ahead of U.S. June non-farm payrolls report
FxWirePro- Woodies pivot (Major)
FxWirePro: AUD/USD eases as investors await U.S. employment figures
FxWirePro : USD/CAD falls as strong Canadian jobs data lifts loonie 



