USD/JPY turns lower and breaks below 114.50 as Trump era starts

Matías Salord FXStreet

The US dollar weakened across the board during the last hours amid a recovery in US bonds. The 10-year year yield dropped back to 2.46% after reaching earlier rates above 2.50%. The yen gained momentum with falling yields.

Greenback remained steady in the market after Trump’s inauguration and now is turning lower amid some arrests in Washington during protests.

Numerous arrests in Washington during anti-Trump protests

USD/JPY broke below the 114.50 support area and fell to 114.27, hitting a fresh daily low. The pair was trading around 114.35, near the lows and practically unchanged from the level it had a week ago.

USD/JPY technical levels

To the upside resistance levels might be located at 114.85 (20-hour moving average), 115.40 (daily high), 115.60 (Jan 19 high) and 116.00 (psychological). On the flip side, support could be seen at 114.00 (psychological), 113.60 (Jan 16 low) and 112.55 (Jan low).

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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