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USD/JPY Price Analysis: Dollar accelerates correction down below 111.00 figure vs. yen

  • 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

 
Dollar/Yen is correcting down sharply after a very volatile last week. The spot is challenging the 110.65 support and a break below it could lead to further losses to the 110.35 and 109.80 levels. Resistance can be found near the 111.65 level, according to the Technical Confluences Indicator.    
 
 
 
Resistance: 111.65, 112.00, 112.46
Support: 110.65, 110.35, 109.80
 
 

Additional key levels

USD/JPY

Overview
Today last price 111.59
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 111.59
 
Trends
Daily SMA20 109.8
Daily SMA50 109.54
Daily SMA100 109.11
Daily SMA200 108.41
 
Levels
Previous Daily High 112.19
Previous Daily Low 111.47
Previous Weekly High 112.23
Previous Weekly Low 109.66
Previous Monthly High 110.29
Previous Monthly Low 107.65
Daily Fibonacci 38.2% 111.75
Daily Fibonacci 61.8% 111.91
Daily Pivot Point S1 111.31
Daily Pivot Point S2 111.04
Daily Pivot Point S3 110.6
Daily Pivot Point R1 112.03
Daily Pivot Point R2 112.47
Daily Pivot Point R3 112.74

 

USD/JPY

Overview
Today last price 111.59
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 111.59
 
Trends
Daily SMA20 109.8
Daily SMA50 109.54
Daily SMA100 109.11
Daily SMA200 108.41
 
Levels
Previous Daily High 112.19
Previous Daily Low 111.47
Previous Weekly High 112.23
Previous Weekly Low 109.66
Previous Monthly High 110.29
Previous Monthly Low 107.65
Daily Fibonacci 38.2% 111.75
Daily Fibonacci 61.8% 111.91
Daily Pivot Point S1 111.31
Daily Pivot Point S2 111.04
Daily Pivot Point S3 110.6
Daily Pivot Point R1 112.03
Daily Pivot Point R2 112.47
Daily Pivot Point R3 112.74

 

 

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