USD/JPY technical analysis: Risk environment takes it toll on USD/JPY

There has been a strong bout of Yen strength in the market.
USD/JPY moves 0.08% lower as the EU indices suffer.

Rajan Dhall, MSTA FX Daily

USD/JPY 1-hour Chart

USD/JPY has been hit by a large amount of selling in the last hour or so.

The FTSE 100 and DAX are both underperforming today after Trump disappointed markets yesterday.

looking at the hourly chart below, the price has taken a dive after breaking the technical pattern.

There was a classic pattern retest before the move lower and now the pair trades 0.08% down for the day.

The consolidation low is at 108.64 and of this breaks the next meaningful support on the daily chart is at 108.45.

Additional Levels

USD/JPY

Overview
Today last price	108.97
Today Daily Change	-0.02
Today Daily Change %	-0.02
Today daily open	108.99

Trends
Daily SMA20	108.75
Daily SMA50	108.09
Daily SMA100	107.67
Daily SMA200	109.03

Levels
Previous Daily High	109.3
Previous Daily Low	108.92
Previous Weekly High	109.49
Previous Weekly Low	108.1
Previous Monthly High	109.29
Previous Monthly Low	106.48
Daily Fibonacci 38.2%	109.06
Daily Fibonacci 61.8%	109.15
Daily Pivot Point S1	108.84
Daily Pivot Point S2	108.69
Daily Pivot Point S3	108.47
Daily Pivot Point R1	109.21
Daily Pivot Point R2	109.44
Daily Pivot Point R3	109.59

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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