USD/JPY closes the bullish gap

Despite the absence of any notable levels USD/JPY came under strong selling pressure and as a result, retreated back to a cluster of supports at 106.80/60. If the demand here is not enough to stop the decline, the area between 106 and 105.50 (weekly and monthly S1, 50% Fibo) will be expected to prevent further depreciation of the US Dollar, just like it did last week. Meanwhile, even lower, at 104.50, there is a cluster created by the 100-day SMA and 61.8% Fibo.

A dip in the value of the Buck brought the distribution between the bulls and the bears into balance, as the difference between them narrowed to insignificant eight percentage points. As for the orders, 51% of them are to buy and 49% are to sell the Dollar.