USD/JPY bearish targets from Barclays.

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The technical strategy team at Barclays Capital provided their forecast for USD/JPY.

“Our bearish view was encouraged by the test of our initial downside targets in the 110.35/05 area. A move below Tuesday’s 109.95 low would confirm downside traction towards support near 109.60 and then towards the 107.60 area. Our greater targets are near 106.65.” written in the report.

As of 06:10 AM EDT the pair was trading at 108.72, which is 0.43% higher than the previous close.

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