USD/JPY: holding near its lows, bearish
|USD/JPY Current price: 111.82
The Japanese yen is stronger against the greenback at the beginning of the week, with the USD/JPY pair trading sub-112.00. In fact a fresh 3-week low has been achieved early Europe, with the pair down to 111.64 before bouncing modestly to the current 111.80 region. Volatility is limited, as the absence of big macroeconomic releases keeps traders in wait-and-see mode, ahead of clearer clues over the world situation. Helping the yen is broad-based risk aversion, amid political jitters in the EU, including Brexit negotiations. From a technical point of view, the 4 hours chart shows that the price remains near its daily low, trading within the 100 and 200 SMAs, and with technical indicators heading nowhere but within negative territory, keeping the risk towards the downside for the upcoming sessions. The 111.60 level is quite a strong static support, with a break below it needed to confirm a steeper slide ahead, firstly towards 111.20, another relevant static support area.
Support levels: 111.60 111.20 110.75
Resistance levels: 112.00 112.30 112.65
View Live Chart for the USD/JPY
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.