News

USD/JPY Asia Price Forecast: Greenback tumbles to 12-day lows vs. yen, trading sub-109.00 figure

  • The demand for the Japanese yen remains high as USD/JPY rolls into Asia. 
  • USD/JPY is expected to keep declining towards the 108.47 and 108.13 price levels. 
 

USD/JPY daily chart

 
After spiking to its highest point since mid-May 2019 in mid-January, the USD/JPY currency pair is down for the fifth consecutive day.
 

USD/JPY four-hour chart

 
 
At the start of the new trading week, USD/JPY gapped down while trading below the main simple moving averages (SMAs). As the market is under pressure and the bears are rejecting the 109.00 figure, a break below the 108.75 support can lead to 108.47 and 108.13 price levels. Resistances are seen near the 109.00 figure, 109.35 and 109.65 price levels, according to the Technical Confluences Indicator.   
  

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.