USD/JPY is consolidating in the 109.00-109.80 range after the 250-pip fall last week. The bears see the current consolidation as a bear flag which could potentially lead to a bearish breakout. The risk remains skewed to the downside as the pair trades below the 50 and 100-period simple moving average on the 4-hour time-frame. USD/JPY 15-minute chart Spot rate: 109.35 Relative change: -0.04% High: 109.83 Low: 109.23 Trend: Bearish Support 1: 109.23 Monday’s low. Support 2: 109.00 handle and swing low (May 24). Support 3: 108.65 swing low (April 5). Resistance 1: 109.50 psychological level. Resistance 2: 110.80-110.00 area, 3-day’s range top and handle. Resistance 3: 110.30 swing high (May 23). 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 EUR/USD: techncially bearish, with caution – Scotiabank FX Street 5 years USD/JPY is consolidating in the 109.00-109.80 range after the 250-pip fall last week. The bears see the current consolidation as a bear flag which could potentially lead to a bearish breakout. The risk remains skewed to the downside as the pair trades below the 50 and 100-period simple moving average on the 4-hour time-frame. USD/JPY 15-minute chart Spot rate: 109.35 Relative change: -0.04% High: 109.83 Low: … 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.
