USDJPY should see further downside risk

13 Jul 2020

USDJPY broke below the upward trendline last week. The breakdown level was around 107.05/10 level. Today, it has recovered to that level once again and that gave a good entry level to short the pair. BOJ will meet this week but nothing new should be expected. With USDJPY around the same level or rather not moving much, I doubt more need to be done. So USDJPY shoudl be subject either to technical development or risk sentiment in the market.

Sell here at 107.09 with stop at 108.10 for 106.05