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USD/JPY Price Analysis: Dollar drops to fresh 2020 lows vs yen in response to the Fed shock cut

USD/JPY daily chart

USD/JPY is trading to fresh 2020 lows below the 200-day simple moving averages (SMA) after the Fed decided to cut interest rates in an emergency measure. 
 

USD/JPY four-hour chart

USD/JPY is challenging the 2020 lows while the market is trading below its main SMAs. Bears want a break below the 107.00 figure to trade down towards the 106.72 and 106.38 price levels. Resistance is seen near 107.90 and 108.17 levels.
 
 
Resistance: 107.90, 108.17, 108.51
Support: 107.00, 106.72, 106.38
 

Additional key levels

USD/JPY

Overview
Today last price 107.45
Today Daily Change -0.99
Today Daily Change % -0.91
Today daily open 108.44
 
Trends
Daily SMA20 110.02
Daily SMA50 109.56
Daily SMA100 109.22
Daily SMA200 108.4
 
Levels
Previous Daily High 108.58
Previous Daily Low 107.38
Previous Weekly High 111.68
Previous Weekly Low 107.51
Previous Monthly High 112.23
Previous Monthly Low 107.51
Daily Fibonacci 38.2% 108.12
Daily Fibonacci 61.8% 107.84
Daily Pivot Point S1 107.68
Daily Pivot Point S2 106.93
Daily Pivot Point S3 106.48
Daily Pivot Point R1 108.88
Daily Pivot Point R2 109.33
Daily Pivot Point R3 110.09

 

 

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