USD/JPY technical analysis: Risk environment takes it toll on USD/JPY

• There has been a strong bout of Yen strength in the market.
• USD/JPY moves 0.08% lower as the EU indices suffer.

USD/JPY 1-hour Chart

USD/JPY has been hit by a large amount of selling in the last hour or so.

The FTSE 100 and DAX are both underperforming today after Trump disappointed markets yesterday.

looking at the hourly chart below, the price has taken a dive after breaking the technical pattern.

There was a classic pattern retest before the move lower and now the pair trades 0.08% down for the day.

The consolidation low is at 108.64 and of this breaks the next meaningful support on the daily chart is at 108.45.

Additional Levels