Technical Analysis: USDJPY remains weak below adjacent falling trendline, 200-bar SMA
Despite bouncing off 61.8% Fibonacci retracement, USDJPY stays below an 8-day-old falling trend line, at 109.10 now. In addition to that, the pair's sustained trading below 200-bar SMA level of 109.35, as well as bearish MACD, also portrays the pair's weakness. As a result, the sellers could revisit 108.55 support during fresh declines, a break of which could push them towards 108.00 and then to the monthly bottom surrounding 107.65. It's worth mentioning that the pair's run-up beyond 109.40 aims for 110.00 and 110.30 while any further advances are less likely unless drastic USD positive catalysts.