USD/JPY Asia Price Forecast: Dollar rebounds from three-year lows vs. yen, trades near 106.00 figure

 

 

USD/JPY is rebounding from three-year lows well below its simple moving averages (SMA) as the equity markets are recovering after a huge selloff on Monday. 

 

 

USD/JPY is consolidating the recent big drop below the 10.00 figure. It is unclear if sellers are still in full control of the market, however a break below and a break below 105.00 could see the market drop again towards 104.00 and 103.30 while if bulls pierce above 106.00 the market can extend its recent gains towards the 107.00 and 108.00 figures.