The USD/JPY pair closed well below 112.10, confirming a bear flag breakdown – a bearish continuation pattern – which indicates a resumption of the sell-off from the recent high of 114.55. The bearish pattern has opened the doors to a sell-off to levels below 110.00. On the way lower, the pair may encounter support at 110.97 (200-day exponential moving average). A close above Friday’s high of 112.44 would invalidate the bearish setup. Daily chart Spot Rate: 111.97 Daily High: 112.05 Daily Low: 111.77 Trend: Bearish Resistance R1: 112.19 (lower edge of the flag) R2: 112.44 (Friday’s high) R3: 112.89 (Oct. 22 high) Support S1: 111.62 (Oct. 15 low) S2: 111.38 (Friday’s low) S3: 110.97 (200-day EMA) 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 China: Unlikely to experience substantial capital outflows – Nomura FX Street 4 years The USD/JPY pair closed well below 112.10, confirming a bear flag breakdown - a bearish continuation pattern - which indicates a resumption of the sell-off from the recent high of 114.55. The bearish pattern has opened the doors to a sell-off to levels below 110.00. On the way lower, the pair may encounter support at 110.97 (200-day exponential moving average). A close above Friday's high of 112.44 would invalidate the bearish setup. Daily chart Spot Rate: 111.97 Daily High: 112.05 Daily Low: 111.77 Trend: Bearish Resistance R1: 112.19 (lower edge of the flag) R2: 112.44 (Friday's high) R3: 112.89 (Oct.… 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.
