USD/JPY: At risk of falling

The USD/JPY pair is barely holding above critical support. Downside potential is still present, according to FXStreet’s Chief Analyst Valeria Bednarik.

Key quotes  

“The pair has bounced just modestly from its 100 SMA, which remains flat just below the mentioned Fibonacci retracement.”

“The 20 SMA, on the other hand, continues heading firmly lower well above the current level, while technical indicators are barely recovering from oversold readings.”

“Support levels: 107.50 107.10 Resistance levels: 108.25 108.60”