USDJPY is trading 20 pips lower from where saw it last week and we said that here is important resistance area. Around 110 USDJPY was a good selling opportunity with the stop close by at 110.30.
Price got rejected once again at the blue trend line resistance. Price has not made a new higher high. The short-term trend is changing back to bearish.
The weekly resistance of the USDJPY has been hit once again.Will we see another rejection? I believe the chances favor a rejection here and a pull back towards 107-108 at least. Time will tell. Any move above 110.30 would be a bullish sign.
