USD/JPY falls below 110.00 for first time in 18 months

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    USD/JPY continued to move lower during the New York session and hit fresh 18-month lows sub-110.00 as the dollar came under renewed pressure during the New York session and the yen continues to outperform given the risk-off mood.

    USD/JPY broke below the 110 mark for first time since October 2014 and scored a low of 109.94 before finding support. At time of writing, the pair is trading at back above 110.00 at 110.23, still 0.99% below its opening price.

    USD/JPY levels to watch

    As for technical levels, if USD/JPY breaks below 109.94, next supports are seen at 109.16 (Oct 31 2014 low) and 107.93 (Oct 29 2014 low). On the other hand, resistances are seen at 110.80 (intraday level), 111.34 (Apr 5 high) and 112.25 (10-day SMA).
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