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USD/JPY chart on Trading View used for analysis
- USD/JPY slips lower, erases previous session's gains, intraday bias bearish.
- Dollar failed to capitalize on a eight-day high hit in the previous session on the back of firmer U.S. Treasury yields.
- Assurances from the White House regarding Treasury Secretary Steven Mnuchin’s and Federal Reserve Chairman Jerome Powell’s job boosted market sentiment.
- USD/JPY slips below 200-DMA, scope for further weakness on close below.
- Next major support lies at 50% Fib at 109.59. On the flipside, 21-EMA at 112.28 is strong resistance.
Support levels - 110.76 (38.2% Fib), 110, 109.59 (50% Fib)
Resistance levels - 111 (5-DMA), 112.28 (21-EMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
