USD/JPY continued to slide on the back of Trumps’ comments. US dollar retreated sharply from 6-month highs and bottomed below 111.50. The USD/JPY pair was rejected again on Thursday from above 113.00 and dropped sharply. The move to the downside accelerated following Donald Trump comments about interest rate hikes from the Federal Reserve. Late on Friday, Trump continued to speak against Fed rate hikes and USD/JPY extended the decline despite higher US yields. The pair bottomed at 111.38, the lowest levels since July 11. Near the end of the week was consolidating losses hovering around 111.50/65, down 160 pips from the weekly high. Technical outlook The reversal removed the positive short-term bias for the greenback and presents doubts about the rally that started mid-March. An uptrend line around 110.80 could be a key level: a consolidation below that level could signal that USD/JPY has peaked at 113.17. If the US dollar rebounds, it needs to rise back above 112.00 to recover momentum while a solid break on top of 112.80/90 is needed to open the doors to more gains. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: GDP growth is expected to rebound strongly in Q2 – Wells Fargo FX Street 5 years USD/JPY continued to slide on the back of Trumps' comments. US dollar retreated sharply from 6-month highs and bottomed below 111.50. The USD/JPY pair was rejected again on Thursday from above 113.00 and dropped sharply. The move to the downside accelerated following Donald Trump comments about interest rate hikes from the Federal Reserve. Late on Friday, Trump continued to speak against Fed rate hikes and USD/JPY extended the decline despite higher US yields. The pair bottomed at 111.38, the lowest levels since July 11. Near the end of the week was consolidating losses hovering around 111.50/65, down 160 pips from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
