USDJPY

USD/JPY is falling rapidly from its early July highs. After peaking at 161.95 on July 3, 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 149.15, it has given the chart a much more bearish outlook. The downward movement observed in the dollar index is pressuring the pair to the downside. The pair, which closed at 145.56 the previous trading day, has gained 0.96% on the day. The RSI indicator for the pair, which is below its 20-day moving average, is at 20.67, while its momentum is at 92.45. The 144.80 level can be followed for intraday downside movements. If this level is broken, support levels of 144.01, 142.46 and 141.28 may become important. In case of possible increases, resistance levels of 146.74, 147.92 and 149.48 will be monitored. Support: 144.880 – 144.010 Resistance: 146.740 – 147.920