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  • The Dollar tumbled against the Yen after Trump commented on his dissatisfaction with current Fed policy, but the USD/JPY is slowly bouncing heading into Friday.
  • Thursday’s decline sees the Dollar-Yen pairing knocked further back from recent highs than bulls would have hoped for, an extra push will be needed to clear into new highs for 2018.
  • The rapid drop could signal a potential rollover into refreshed Greenback selling in broader markets, which could kick off a leg down against the G10.

USD/JPY Chart, 15-Minute

Spot rate:   112.47
Relative change:   0.04%
High:   112.49
Low:   112.33
Trend:   Flat to bullish
Support 1:   112.04 (previous day low)
Support 2:   110.76 (100.0% Fibo retracement level)
Support 3:   110.34 (previous week low)
Resistance 1:   112.79 (July 13th swing high)
Resistance 2:   113.16 (previous day high)
Resistance 3:   113.74 (December 12th swing high)