USDJPY FALLS ON NORTH KOREAN TENSIONS
The USDJPY pair has fallen below the 112 level, to test its 200-day moving average, at 111.44, after North Korea’s foreign minister said on Monday, President Donald Trump had declared war on North Korea.
Tensions have also risen, after Pyongyang threatened to test another nuclear capable hydrogen-bomb over the Pacific Ocean, sending investors into safe-haven assets such as the Japanese Yen and gold.
At present, the USDJPY trades below its 200-week moving average, at 111.64, however, sellers yesterday failed to close the daily time-frame price candle below the 111.64 level.
Key intraday USDJPY technical support is found at the 200-day moving average at 111.44 and the pairs 100-week moving average, at 111.04. Below 111.04 further support is found at 110.86 and 110.68.
To the upside, key technical resistance above the 111.65 level is found at the pairs daily pivot point, at 111.84 and the key 112 handle.
Above 112, further resistance is found at 112.30 and 112.57, with the 112.71 and 113.20 levels offering strong weekly resistance.