USDJPY Chart Technical Outlook sharp slide from the 34-year high
Initial bullish pressure continued overnight with USD/JPY trading to a new 34-year high. Levels close to the 160.00 psychological Big Figure have found selling interest. Although Japan is on holiday, rumors of intervention are rife.
Bespoke support is located at 154.78. We have a demand zone between 154.63 and 153.59. On the upside, we have an imbalance located at 157.83.
Resistance: 157.83 (imbalance), 158.86 (trend line) 160.23 (34-year high)
Support: 154.78 (bespoke), 154.63 (demand), 153.59 (swing low)
