Sunday, August 12, 2018

USD/JPY - 13 August 2018


undamental Highlights

Safe-haven buying drove the Japanese Yen higher after a steep decline in the Turkish Lira raised contagion fears in the Euro area. The focus remains on any speeches or tweets from U.S. and Turkish Presidents as they would have a significant impact on the market's direction.

Technical Analysis

New lows were posted as the pair continues its downwards move. Today's price action may be to the downside towards the 110.15 mark with a possibility of breaking it and moving further in the direction of the 110.03 area.

Support: 110.15 110.03
Resistance: 110.85 111.14

Chart (H1)