The USDJPY trades to new session low
The USDJPY trades to a new low and looks to test the Monday low at 107.116. That was the lowest level since March 18.
On a break, the 107.00 level will be eyed. Not only is it a natural support level, but is also a lower trend line.
Taking a him broader look at the daily chart, the pair has traded in wild up and down swings over the last few months. We are currently on a downward trajectory. Technically, the next key support level from the daily chart (on a break of the 107.00 level) would come in at the 50% retracement of the move up from the March low for the March high comes in at 106.440. That is near the swing low from October 2019 at 106.477. There may be interim support at 106.773 which was the swing low going back to June 2019.
