USD/JPY down 80-pips, finds support near 200-SMA

Jose Ricaurte Jaen Analista independiente

Currently, USD/JPY is trading at 114.82, up +0.15% on the day, having posted a daily high at 115.61 and low at 114.37.

During the last hours of the NA trading session, sellers pushed prices lower erasing a decent portion of the accumulated gains the pair banked.

As President-elect Trump prepares for his inauguration ceremony, investors look to take profits in front of many uncertainties surrounding international trade, fiscal stimulus and how soon those can impact the economy; the absence of clarity makes imperative a risk reduction in the long-dollar trade.

Technical Levels to watch

In terms of short-term technical levels, upside barriers are aligned at 115.20 (horizontal resistance) and above that at 115.61 (today's high). While supports are aligned at 114.66 (200-SMA) and below that at 113.96 (50-SMA).

USD/JPY analysis: next relevant resistance around 115.90

Author

Jose Ricaurte Jaen

Analista independiente

Born in Colón (Panamá). Over the last years, he has been designing currency algorithms for the retail industry.

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