USD/JPY Technical Analysis: Recovering some losses post-Trump's comment on rate hikes
|- USD/JPY fell about 80 pips after US President Trump said that he didn’t like interest rate hikes and a strong USD in a CNBC interview. However, USD/JPY already recovered about 45 pips to the upside.
- USD/JPY took a strong hit and is now trading below the 50, 100 and 200-period simple moving averages.
- As long as USD/JPY stays below 112.64 it could indicate that the bearish correction is not over yet and that the bearish pressure can persist.
USD/JPY 15-minute chart
Spot rate: 112.50
Relative change: 0.32%
High: 113.18
Low: 112.05
Trend: Bullish /Bearish correction
Resistance 1: 112.64 July 12 high
Resistance 2: 113.18, 2018 high
Resistance 3: 113.26-113.38, 200-weekly simple moving average and January 8 high
Resistance 4: 114.45 October 27, 2017 high
Support 1: 112.19-112.40 area, July 11 high and intraday swing low
Support 2: 111.60-111.80 area, 23.6% and 23.2% Fibonacci retracement low/high July 11
Support 3: 111.39 May 21 swing high
Support 4: 111.02-111.16 previous intraday swing lows
Support 5: 110.90 June 15 swing high
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.