USD/JPY lost about 250 pips since last Thursday to current Monday’s lows. USD/JPY is currently supported by a daily trendline from March, 26. However, today’s sharp drop suggests that the bearish correction might not be over yet and a failure to build momentum above 111.39 and 111.60-111.80 area can lead to a retest of the current daily low at 110.75. On the other hand, a breakout above 111.60-111.80 area can lead to an acceleration to 112.19-112.40 area. USD/JPY 15-minute chart Spot rate: 111.33 Relative change: -0.13% High: 111.51 Low: 110.75 Trend: Bullish / Risk of bearish reversal Resistance 1: 111.39 May 21 swing high Resistance 2: 111.60-111.80 area, 23.6% and 38.2% Fibonacci retracement low/high July 11 Resistance 3: 112.19-112.40 area, July 11 high and intraday swing low Resistance 4: 112.64 July 12 high Resistance 5: 113.18, 2018 high Resistance 6: 113.26-113.38, 200-weekly simple moving average and January 8 high Resistance 7: 114.45 October 27, 2017 high Support 1: 110.75 current 23 July low Support 2: 111.02-111.16 previous intraday swing lows Support 3: 110.90 June 15 swing high 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 CFCT Positioning: EUR net longs reduced further FX Street 5 years USD/JPY lost about 250 pips since last Thursday to current Monday's lows. USD/JPY is currently supported by a daily trendline from March, 26. However, today's sharp drop suggests that the bearish correction might not be over yet and a failure to build momentum above 111.39 and 111.60-111.80 area can lead to a retest of the current daily low at 110.75. On the other hand, a breakout above 111.60-111.80 area can lead to an acceleration to 112.19-112.40 area. USD/JPY 15-minute chart Spot rate: 111.33 Relative change: -0.13% … 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.
