- USD/JPY is starting the week trading sharply down after a large bullish breakout last week.
- The correction down is extending below the 111.00 level.
USD/JPY daily chart
USD/JPY is trading in an ascending channel while trading above the main daily simple moving averages (SMAs). The market is correcting down after two consecutive days of above-average intraday rallies.
USD/JPY four-hour chart
Resistance: 111.65, 112.00, 112.46
Support: 110.65, 110.35, 109.80
Additional key levels