USDJPY

USD/JPY is falling sharply from its early July highs. After peaking at 161.95 on July 3, it fell more than five Japanese yen to 156.50 on July 17. The breakout of the main trendline at 158.45 on July 13 was a game-changer for the pair, and when taken together with the more recent break below the July low of 157.15, it has given the chart a much more bearish outlook. The pair closed at 156.39 the previous trading day, bringing the daily gain to 0.14%. The pair, which is below its 20-day moving average, has an RSI of 34.95, while its momentum is at 96.87. The intraday downside is likely to be seen at 155.65. If this level is broken, the supports at 154.90 and 154.44 may become important. In case of possible increases, the resistance levels at 156.85, 157.32 and 158.06 will be monitored. Support: 155.650 – 154.900 Resistance: 156.850 – 157.320