September Japanese yen futures a selling opportunity on more price weakness.
See on the daily bar chart for September Japanese yen futures that prices are in a steep four-week-old downtrend and have just hit a fresh five-week low. The bears have gained downside near-term technical momentum. A move in prices below technical support at Monday’s low of .9852 would become a selling opportunity. The downside price objective would be .9350, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.0100.
