- USD/JPY is trading in a bear trend below the 200-period simple moving average (SMA).
- USD/JPY broke strongly below the 112.00 figure as bears print a new monthly low. The safe-haven yen is in strong demand as Wall Street stock indices are crashing.
- The next significant support is seen near 111.00 while 111.84 (August 29 swing high) becomes the key resistance.
USD/JPY 4-hour chart
Spot rate: 111.66
Relative change: -0.67%
High: 112.46
Low: 111.37
Main trend: Bearish
Resistance 1: 112.00-112.17 zone, figure and August 1 swing high
Resistance 2: 112.55 September 27 low
Resistance 3: 113.00 figure
Resistance 4: 113.55 October 2 low
Support 1: 111.00 figure
Support 2: 110.35 September Low
Support 3: 109.75 August low