USDJPY: Downside looms but some obstacles along the way
Updated
109.50 proved to be strong trendline resistance and we can see price has since rejected that area. 108.50, 107.90 and 107.50 might be stumbling blocks for any further move downwards for USDJPY.
Note
Weekly chart: We can see price broke downwards (during 12/2 - 16/2 week) of ascending trendline that has been holding since September 2012. Now, it is making a re-test. We might see price head down this week with DXY looking like it's going to make a corrective structure to 91 a good news for usdjpy to head downside too. Order cancelled
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