USDJPY 2018-08-01

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As we advised last week and as we see over our previous chart

USDJPY managed to head for fast drop movement as market kept trades below 113.30-70 which this drop was driven by Donald Trump tweet about rate hike

Market managed to test support uptrend line around 110.50-60 which if managed to hold the market another advance wave may be on play where resistance still at 113.30-70 zone

Below 110.50 Market may risk for farther drop movement toward 108.50-109.00 zone

Market managed so far to rebound toward 112.15 zone

  Support Resistance
Level 1 111.25 112.15
Level 2 110.50-60 112.60
Level 3 109.10 113.30

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