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Momentum continues to fall – USD/JPY Market Outlook – 22/03/2021

SquaredFinancial

The US Dollar continues its downside momentum against the Japanese Yen as the minor trend is currently down and the RSI is also pointing lower signaling further weakness ahead with ¥108.40 as nearest support level. However, the USD/JPY pair is currently trading on the bullish side of the major retracement zone and therefore buyers will most likely start buying dips going forward as the long-term trend is still up.

Support: 108.40 / 108
Resistance: 108.90 / 109.20

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/momentum-continues-to-fall-usd-jpy-market-outlook-22-03-2021
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