FX.co ★ USD/JPY analysis for 04.29.2020 - Strong downside momentum and potential for bigger drop towards the 105.30

Corona virus summary:

China's parliament will start its annual meeting on 22 May

Technical analysis:

USD/JPY has been trading downwards. The USD/JPY did break 10-day balance to the downside and I do expect further drop towards the levels at 105,85 and 105,25.

Trading recommendation:

Resistance levels are set at the price of 106,90 and 107,95

Support levels are set at the price of 105,85 and 105,25.