USD/JPY: technically positive, despite intraday slide
|USD/JPY Current price: 112.00
The USD/JPY pair fell down to 111.65 early Asia, as rising geopolitical tensions fueled demand for the Japanese currency. Fears eased partially with London opening, helping the pair recover to the current 112.00 level, having held well-above the 23.6% retracement of the rally between 107.31 and 112.77, this month's range. North Korea responded to US President Trump's executive order for additional sanctions to the country with menacing with the "highest level of countermeasure," and is said to be preparing another nuclear test in the Pacific. The news limit the upside for the USD/JPY, although investors are less willing to run towards safety on North Korean headlines lately. Anyway, and ahead of US PMIs releases, the pair maintains a positive tone, although with limited upward momentum, as in the 4 hours chart, the price remains well above its 100 and 200 SMAs, whilst technical indicators managed to bounce from their mid-lines, holding within positive territory.
Support levels: 111.65 111.40 111.10
Resistance levels: 112.35 112.70 113.00
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.