FX.co ★ Technical analysis of USDJPY for February 10, 2020.

USDJPY is trading 20 pips lower from where saw it last week and we said that here is important resistance area. Around 110 USDJPY was a good selling opportunity with the stop close by at 110.30.

Price got rejected once again at the blue trend line resistance. Price has not made a new higher high. The short-term trend is changing back to bearish.

The weekly resistance of the USDJPY has been hit once again.Will we see another rejection? I believe the chances favor a rejection here and a pull back towards 107-108 at least. Time will tell. Any move above 110.30 would be a bullish sign.