- The US Dollar continues to grind higher against the safe-haven Yen as markets stabilize after last week’s risk-off plunge on Turkey contagion fears.
- US-CHina trade war angst continues to bubble just beneath the surface; a resurgence of negative trade headlines could see market anxieties bid the JPY back up.
- Technical indicators are beginning to warn of overbought conditions for the Greenback just above the 111.00 handle.
|Support 1:||111.00 (major technical level)|
|Support 2:||110.58 (previous day low)|
|Support 3:||110.10 (current week low)|
|Resistance 1:||111.36 (61.8% Fibo retracement level)|
|Resistance 2:||112.14 (two-week high)|
|Resistance 3:||112.44 (R3 weekly pivot)|