USD/JPY Below Support

USD/JPY is trading below support since the Brexit actually happened. The pair dipped below 103.00 on the Referendum day and made a low of 98.95. Two days later the Yen has depreciated slightly and is currently trading at 102.30 with a high of 102.41 for today and 102.47 for yesterday.

Main trend remains bearish as the Yen has been regarded as safe haven among currencies. Further depreciation could also be expected due to price well below the 200SMA and also below the support line on the long-term descending channel.


Strong support is seen at 100.80. First resistance might be expected at 103.10.

Chart: USD/JPY D1