USDJPY

USD/JPY is falling rapidly from its highs from early July. After peaking at 161.95 on July 3, it fell to 154.50 on the back of the Japanese Yen intervention. 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 154.15, it gave the chart a much more bearish outlook. The pair closed at 154.81 on the previous trading day, with a daily loss of 0.50%. The pair, which is below its 20-day moving average, has an RSI of 31.33, while its momentum is at 96.28. Intraday upside moves can be followed at 155.19. If this level is passed, resistance levels of 155.62, 156.42 and 156.85 may become important. In case of possible pullbacks, support levels of 154.38, 153.96 and 153.15 will be monitored. Support: 154.380 - 153.960 Resistance: 155.190 - 155.620