The US dollar
has reversed sharply against the Japanese yen
after President Trump announced another round of trade tariffs on Chinese imports coming into America. The 106.40 level is now in focus, with the 106.82 level the foremost technical support before. Overall, a move below the 106.82 level will completely invalidate the bullish
inverted head and shoulders
pattern on the four-hour time frame
pair is only bullish
while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels.
pair is bearish
while trading below the 108.60 level, key technical support is found at the 106.82 and 106.40 levels.