USD/JPY: Gaps Lower
Jason Sen | Sep 04, 2017 03:33AM ET
USD/JPY gaps lower this morning and below support at 109.80/70 to bounce 9 pips above minor support at 109.20/16. If we continue lower look for 108.84/80 and 108.61/58 before the 108.30/25 low.
First resistance at 109.70/80 but above here allows a recovery to minor resistance at 109.20/24 before strong resistance at 110.65/70. Watch for a high for the day once again but shorts need stops above 110.95. A break higher meets further resistance at 111.15/19 so bulls are only back in control above here to target 111.55/60.
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