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General USDJPY Technical Analysis 05/08/2020

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tewara

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USDJPY 2020-08-05

The USDJPY pair is now trading above the daily level of 105.58. As long as the price stays above the 105.58, on a daily basis, the downward movement may be limited and we will follow 105.84 as resistance level again. On the other hand, if the price drops below 105.58, the next support level can be seen at 105.30.
Support: 105.58 - 105.30 - 105.05
Resistance: 105.84 - 106.15 - 106.41
 
Usd/Jpy is a very slow type pair for a long time and now people are not investing in this pair even if you look at this weekly pr monthly volume then you will see the actual outlook so be cautious when you are going to trade this pair.
 

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