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USD/JPY hesitant above 107.50

FXStreet (Córdoba) - USD/JPY was capped once again by the 108.15 resistance area and turned back south, falling to fresh daily lows in recent dealings.

Mild risk aversion amid global growth concerns put the pair back under pressure, although USD/JPY remains within last sessions’ range. At time of writing, USD/JPY is trading at 107.70, down 0.10% on the day, having hit a low of 107.61 so far. Yesterday’s through at 107.52, stands as immediate support.

USD/JPY technical outlook

“Current rebound above 107.50 should be considered corrective in nature, preceding new slide towards 106.70”, said Stoyan Mihaylov, analyst at Deltastock. “Initial intraday resistance is projected at 108.33, followed by the crucial one at 108.72”.

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