USDJPY (109.02): The USDJPY closed at 109.20 yesterday marking a fresh 4-month low. The declines could see USDJPY falling to the previous support level at 108.26 in the near term. The support level help stall the declines. On the 4-hour chart, resistance could be seen forming near 110.44 – 110.34 region that was recently breached. To the downside, unless we see an intraday bounce, USDJPY could be seen extending the declines down to the 108.26 level.
:%20The%20USDJPY%20closed%20at%20109.20%20yesterday%20marking%20a%20fresh%204-month%20low.%20The%20declines%20could%20see%20USDJPY%20falling%20to%20the%20previous%20support%20level%20at%20108.26%20in%20the%20near%20term.%20The%20support%20level%20help%20stall%20the%20declines.%20On%20the%204-hour%20chart,%20resistance%20could%20be%20seen%20forming%20near%20110.44%20-%20110.34%20region%20that%20was%20recently%20breached.%20To%20the%20downside,%20unless%20we%20see%20an%20intraday%20bounce,%20USDJPY%20could%20be%20seen%20extending%20the%20declines%20down%20to%20the%20108.26%20level.){kind=link}