Sunday, August 5, 2018

USD/JPY - 06 August 2018


Fundamental Highlights

USD/JPY is steadily slipping lower driven primarily by trade war concerns than JGB yield moves as the BoJ bought record amount of bonds last week to keep the bond markets stable in its quest to test the upper tolerance limit. No big news on Yen today there is only the release of Average Cash Earnings which won't have much affect on the pair.

Technical Analysis

Looking at the chart, USD/JPY was moving downwards and crossed Friday's support of 111.39 and moved towards the second support before moving back upwards. Today the pair may trend towards the 111.13 support before rising towards the 111.86 resistance.

Support: 111.13 110.88
Resistance: 111.86 112.00

Chart (H1)