- USD/JPY spiking higher ahead of Trump-Kim meeting.
- A turnaround at the 110.50 level could be the impetus for a false break, putting the bears back in control.
- A soured Trump-Kim summit could quickly see safety flights reverse and send the pair tumbling; short-term traders should be careful to keep positions tightly managed.
Spot rate: 110.41
Relative change: 0.34%
High: 110.49
Low: 109.97
Trend: Bullish
Support 1: 110.00 (major psychological handle, current day’s low)
Support 2: 109.28 (current week’s low)
Support 3: 108.11 (one-month low)
Resistance 1: 111.39 (one-month high)
Resistance 2: 112.75 (1-Month R2 pivot)
Resistance 3: 113.38 (2018 high)
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