USDJPY LOWER ON RISK AVERSION
As the new trading week gets underway, the USDJPY pair has continued to slip lower, falling to 110.30 during the Asian session, amid rising concerns over North Korea’s missile threat and continued technical selling below the key 110.80 level.
The USDJPY pair has now fallen to its lowest trading level since June 15th and remains bearish on all time frames, and currently, risks slipping even lower after losing the 110.80 support area.
Key technical support is located at the current daily price low, at 110.30, below this level the psychological 110 level comes into focus, as does the 109.80 support level.
To the upside, resistance for the USDJPY pair is found at the daily pivot point, at 110.85, with the calculated weekly and monthly pivot located at 111.15 and 111.38.