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  • The Greenback is clawing back against the Japanese Yen as broader markets struggle to recover from last week’s reversal of risk flows.
  • Retail Sales data for the US due later on Tuesday will see directional power in the hands of Greenback traders.
  • The Yen’s recent spike on the back of Turkish contagion fears will likely fade as long as trade tensions also remain sedate for the time being.

USD/JPY Chart, 15-Minute

Spot rate:   110.82
Relative change:   0.16%
High: 110.89
Low: 110.58
   
Trend: Sideways
   
Support 1: 110.58 (current day low)
Support 2: 110.10 (current week low)
Support 3: 110.00 (major technical level)
   
Resistance 1: 110.93 (previous day high)
Resistance 2: 111.52 (previous week high)
Resistance 3: 112.14 (two-week high)