20 Jul 2018
USD/JPY Technical Analysis: Dollar halts skid, finds buoyancy at 112.50
- The Dollar tumbled against the Yen after Trump commented on his dissatisfaction with current Fed policy, but the USD/JPY is slowly bouncing heading into Friday.
- Thursday's decline sees the Dollar-Yen pairing knocked further back from recent highs than bulls would have hoped for, an extra push will be needed to clear into new highs for 2018.
- The rapid drop could signal a potential rollover into refreshed Greenback selling in broader markets, which could kick off a leg down against the G10.
USD/JPY Chart, 15-Minute
| Spot rate: | 112.47 |
| Relative change: | 0.04% |
| High: | 112.49 |
| Low: | 112.33 |
| Trend: | Flat to bullish |
| Support 1: | 112.04 (previous day low) |
| Support 2: | 110.76 (100.0% Fibo retracement level) |
| Support 3: | 110.34 (previous week low) |
| Resistance 1: | 112.79 (July 13th swing high) |
| Resistance 2: | 113.16 (previous day high) |
| Resistance 3: | 113.74 (December 12th swing high) |