USD/JPY Current price: 119.65
View Live Chart for the USD/JPY
More slides below 119.35. The USD/JPY pair trades slightly lower daily basis, holing near its daily low of 119.59 ahead of the US opening. The pair come under pressure on the back of stocks' slide in Asia, albeit the movement lacks momentum, with the price still confined within its latest range. Technically, the 1 hour chart shows that the 100 SMA is slowly detaching from the 200 SMA well above the current level, whilst the technical indicators head sharply lower in negative territory, maintaining the risk towards the downside. In the 4 hours chart, the technical indicators also head south below their mid-lines, supporting a downward continuation, with the next support at 119.35, the 38.2% retracement of its latest bearish run. Below this level, the pair can extend down to 118.90, followed later by 118.55, the base of its latest range.
Support levels: 119.35 118.90 118.55
Resistance levels: 120.05 120.35 120.70
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