The USD/JPY posted a lower low daily basis, reflecting market is still selling the pair. Currently recovering some ground price is unable to advance beyond the 102.00 figure, with the hourly chart showing indicators heading higher below their midlines and 100 SMA extending its bearish slope and capping the upside around key 102.60 price zone. In bigger time frames however the bearish tone prevails, with still room for a slide down to 101.20 price zone.
Support levels: 101.60 101.20 100.70
Resistance levels: 102.20 102.60 103.00