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9 Jul 2018
USD/JPY Technical Analysis: Trade tariffs and US NFP bump see the Dollar on the soft side
- US Dollar striking a softening tone following last Friday's US-China tariff implementation, US NFP jobs report.
- 110.50 has been a key cyclical figure for the USD/JPY for several weeks, failed breaks of outside barriers will continue to play towards the middle.
- Strong support zone could be building from 110.30 upwards.
USD/JPY Chart, 1-Hour
| Spot rate: | 110.51 |
| Relative change: | 0.10% |
| High: | 110.52 |
| Low: | 110.36 |
| Trend: | Bearish |
| Support 1: | 110.27 (previous week low) |
| Support 2: | 109.36 (two week low) |
| Support 3: | 108.71 (June low) |
| Resistance 1: | 110.80 (61.8% Fibo retracement level) |
| Resistance 2: | 111.12 (previous week high) |
| Resistance 3: | 111.39 (May technical top) |