In this video, the Trading Central looks at the currency pair USD/JPY for the March 20th session.
USD/JPY — The USD/JPY pair has lost two major levels 114.00 and 113.00 last week. Looking at the intraday 30-min chart, we can see that the pair remains trading on the downside after failing to break above the key resistance at 113.50 on last Friday. Currently, technical indicators are still pointing to a strong downward momentum. On the downside we expect support at 112.40 and 112.00. Remember that the pair mark a low of around 111.65 in the beginning of March. Only a break above the key resistance at 113.00 would turn the intraday outlook bullish.