The USDJPY made new week lows/new low since September 14th, but the price has rebounded. Yesterday’s low at the 77.58 will be eyed as a level to get back below if sellers want to remain in control. If doable, the 77.34/39 will be the next target on the downside.
So far however, the market seems more intent on buying dips rather than selling. On the topside, the 77.76 area is topside trend line resistance followed by the 100 hour MA at the 77.85 level. The price has been below the 100 hour MA since September 19th.
