Recently, the USD/JPY pair has been trading downwards. The price tested the level of 110.15. According to the daily time – frame, I have found there is strong selling pressure on USD/JPY and that price breached the lower Keltner band, which is a clear-cut sign of weakness. I have also found that there is a very low reading on the LBR oscillator, which is another sign of weakness. The support at 111.36 is also broken and has been re-tested in the background, which adds more downside pressure. My advice is to watch for selling opportunities. The downward targets are set at the price of 109.78 and at the price of 109.43.
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