USD/JPY Technical Analysis: Negative bias, 110.00 exposed

The yen remains supported by risk aversion and lower US yields.
The USD/JPY pair is testing a relevant short-term support around 110.50. A break below would signal the end of the corrective move, exposing the 110.00/05 area.

Matías Salord FXStreet

USD/JPY 15-minutes chart

The stronger yen could test 110.00 relatively soon. If it breaks below the next target is 109.60, the 50% Fibonacci retracement of the March-October rally.
On the upside, the immediate resistance is 111.70. Above the US dollar could gains strength for a recovery on top of 112.00. The next critical resistance is 112.20 (Dec 6 and 10 low).

USDJPY Daily Chart

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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