USD/JPY - USD/JPY Slipped Below 115.00 Key Level - 01/12/2017 (GMT)

The U.S. dollar dropped more than 2% since Monday against the Japanese yen while is currently recording the fourth red day in a row. The first press conference of Donald Trump, drove the USD/JPY pair sharply lower as it broke the consolidation that was holding over the last four weeks to the downside. The pair slipped below the 115.00 strong psychological level and now is trading near the 50-daily SMA. A penetration below of the latter obstacle will open the way for a retest of the 113.00 significant barrier which is slightly below the second support level of the pivot point.

In addition, the momentum indicators have turned to the downside. The MACD oscillator is falling while it is approaching the negative territory. The RSI indicator plunged below the 50 level with some strong momentum whilst it is moving towards the 30 level.