Dollar/Yen Falls With Stocks And Looks Forward To Powell

Here are the events lined up in Japan:

Japan macro economic events December 10 14 2018

USD/JPY Technical Analysis – Leaning lower

Dollar/yen slipped below the 50-day Simple Moving Average, and this is a bearish sign. Moreover, it is posting lower highs and lower lows as shown by the thick black lines on the chart.

112.60 which supported the pair several times in early December and also back in early October. 112.20 was a trough early in the week. Further down, 111.80 provided support in October and worked as resistance in late August. Lower, 111.40 was a swing low in late October. The next line is much lower: 110.40 which was a swing low in October.

113.25 capped USD/JPY in early December. 113.80 was a peak around the same time. Further up, 114.05 was a peak in later November and is followed by 114.25 seen earlier last month. The 2018 maximum of 114.55 is next up.

(Click on image to enlarge)

USD JPY Technical analysis December 10 14 2018

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