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USDJPY major support broken!

Oleh Tickmill
Broker

USDJPY is making a pullback to our major support-turned-resistance level at 110.96 (major 50% Fibonacci retracement, horizontal overlap support stretching back to mid August 2017). This could be potentially a good level to trigger a strong sell off which could drive price down towards 109.88 support (100% Fibonacci extension, Fibonacci retracement, swing low support).

RSI (34) remains in a descending channel showing that there is still bearish momentum in this move.

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Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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