USD/JPY is losing about 90 pips on Friday amid broad-based USD selling. USD/JPY is still holding above a daily trendline from March, 26 suggesting that the bull trend is still in effect. However, the sell-off is happening near the 2018 high and just below the weekly 200-period simple moving average, increasing the odds of a successful bearish reversal. USD/JPY just found support at 111.39 May 21 swing high and while a bounce can be expected it remains to be seen if the bull trend can actually resume to new highs. USD/JPY 15-minute chart Spot rate: 111.56 Relative change: -0.81% High: 112.64 Low: 111.39 Trend: Bullish / Risk of bearish reversal Resistance 1: 111.60-111.80 area, 23.6% and 38.2% Fibonacci retracement low/high July 11 Resistance 2: 112.19-112.40 area, July 11 high and intraday swing low Resistance 3: 112.64 July 12 high Resistance 4: 113.18, 2018 high Resistance 5: 113.26-113.38, 200-weekly simple moving average and January 8 high Resistance 6: 114.45 October 27, 2017 high Support 1: 111.39 May 21 swing high Support 2: 111.02-111.16 previous intraday swing lows Support 3: 110.90 June 15 swing high USD/JPY Daily chart 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 USD/JPY drops 150 pips in two days, is the rally over? FX Street 5 years USD/JPY is losing about 90 pips on Friday amid broad-based USD selling. USD/JPY is still holding above a daily trendline from March, 26 suggesting that the bull trend is still in effect. However, the sell-off is happening near the 2018 high and just below the weekly 200-period simple moving average, increasing the odds of a successful bearish reversal. USD/JPY just found support at 111.39 May 21 swing high and while a bounce can be expected it remains to be seen if the bull trend can actually resume to new highs. USD/JPY 15-minute chart Spot rate: … 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.
