USD/JPY: technically positive, despite intraday slide

Valeria Bednarik FXStreet

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

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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