USD/JPY slides to the 2-weeks low

USD/JPY slides to the 2-weeks low

Bulls could not hold yesterday's gains for USD/JPY. The pair has fallen below the weekly pivot at 111.70 and tested the support at 111.54 (200-day SMA). Strong bearish pressure may break this level and pull the pair lower in the direction of the next weekly pivot support at 111.30. If buyers take over the market, they will try to move USD/JPY up to to the resistance at 112.34. If we look at indicators, parabolic SAR still shows the upward movement for the pair.

USDJPYDaily.png

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