Source: Forex Analysis
USD/JPY has been trading sideways at the price of 109.80. Anyway, I found very good opportunity for the downside due to overbought condition and strong rejection of resistance during the Non- Farm Employment change.
My advice is to watch for selling opportunities and potential drop to 109.30 and 109.00
MACD oscillator is showing bear divergence and 4 pushes up with decreasing momentum, which is sign of weak buying.
Short-term resistance level is set at 110.00
Support levels are set at the price of 109.32 and 109.00
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