USD/JPY : the bias remains bearish

Japan PPI services slowed in August.

Japan flag

Prices for services products provided by Japanese firms to other businesses & government rose 1% in August, less than expected, after a 1.2% increase in July.

From a technical point of view, on a daily chart, USD/JPY remains under pressure following the break below a symetrical triangle. Prices trade below their 50-day moving average while the RSI remains below its neutrality area at 50. As long as the 106.9 resistance is not broken, readers may therefore consider further downside towards next supports at 104 and 102.4 in extension.

Source : TradingVIEW, Gain Capital

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