NORTH KOREA TENSIONS SENDS USDJPY BELOW 110

The USDJPY pair has moved below the psychological 110 level, as tensions between United States and North Korea worsen, with both countries threatening possible military action against each other.

So far in Asia the USDJPY pair has traded as low as 109.73, with price now stabilizing just below the 109.90 region. The pair has now lost over 100 pips, after reaching 110.83 during Tuesday's U.S session.

The USDJPY pair is now strongly bearish on all time frames, with moving average indicators pointing to further intraday losses.

Key technical support below the 109.80 level is found at 109.31, which donates daily time frame trendline support for the pair.

Further support comes from the June price low, at 108.80, and the April price low, at 108.13.

Key USDJPY technical resistance is found at the key 110 level, the 110.32 level, which is former support now turned resistance. The USDJPY calculated daily pivot point is found at 110.47.