Technical Analysis – USDJPY snaps four-day winning streak; closes below trendline

USDJPY rotated aggressively to the downside after crawling as high as 109.84 on Friday, slumping below the ascending trendline drawn from the 101.17 bottom and back into the 107.00 zone. The pair erased four green candles and the spotlight is now on the 23.6% Fibonacci retracement level of the short-term downleg from 111.70 to 105.97, […]