USD/JPY Asia Price Forecast: Dollar remains vulnerable vs. yen, trades above 110.00 figure

 

 

 

USD/JPY is trading in an ascending channel while trading above the main daily simple moving averages (SMAs). The quote is retracing down after a huge breakout last week. 

 

 

USD/JPY is consolidating the recent decline in the 110.00/110.60 band while trading between the 50 and the 100 SMAs. As the spot remains vulnerable to the downside, the sellers could pressure the 110.00 support for 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.