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USD/JPY less committed bulls pulling out

FXStreet (Guatemala) - USD/JPY is trading at 108.62, down -0.34% on the day, having posted a daily high at 108.93 and low at 108.46.

USD/JPY slid 20 quick pips on the back of comments from Abe who is concerned over the effect what a weaker Yen will have on local economies and this is giving longs a warning that too much too soon may not be tolerated. The pair has been showing signs of exhaustion on the bid with momentum indicators tailing off and with hourly RSI now moving in towards less neutral territory it may rattle the less committed bulls at these levels. The lows overnight come in at 108.25/40.

USD/JPY levels

Support levels: 108.25, 108.10 and 107.70

Resistance levels: 109.00, 109.45 and 109.80

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