USD/JPY Asia Price Forecast: Dollar pressured near six-day lows vs. Yen, challenging 110.00 figure

 

 

 

USD/JPY is trading in a bulls channel while trading above its main daily simple moving averages (SMAs). However, the quote is retracing down sharply after a massive breakout last week. 

 

 

USD/JPY is about to end the New York session below the 110.00 support and the 200 SMA. The quote remains vulnerable to the downside as sellers might generate a drop towards the 109.40 and 108.60 on the way down. Resistances are seen near the 110.65 level and the 111.00 figure.