USJPY Returned to several month lows
3/2/2018 9:38:54 AM
“The USDJPY pair sustained losing ground over the early European session and fell farther below the 106.07 handle, back closer to several month lows set in mid-Feb.”
Bearish would be eyeing for an advance 105.57 level, below which the pair appears all set to aim towards challenging the key 105.03 psychological mark. On the advantage, any recovery efforts might now provoke some fresh supply near the 106.10 handle, which if cleared might cause some short-covering recoil back towards 106.77 hurdle.
FOREX market analysis by FxErvin.