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USD/JPY retreats to 111.485 critical support level

The U.S. dollar retreats to 111.485 support after reaching a critical trend-based timeframe on Thursday 21/2 which saw price hovers around 112.250 before pulling back. 

The long term trend is still in a bullish form holding in the middle of the 30 minutes price channel; however, a drop in prices below 111.485 support could trigger a pullback/short sell all the way down to 110.730 and 110.270. The U.S. dollar needs to break and remain above 112.250 to continue to 112.790

Author

Denis Joeli Fatiaki

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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