News

USD/JPY Price Analysis: Dollar trades near session’s highs vs. yen, above 110.50 level

  • USD/JPY is consolidating the recent losses. 
  • The level to beat for bears is the 110.00 figure.

 

USD/JPY daily chart

 
USD/JPY is trading in a bull channel while above its main daily simple moving averages (SMAs). The spot is pulling back down after a huge breakout last week. 
 

USD/JPY four-hour chart

 
USD/JPY is trading in the 110.00/110.60 range while trading between the 50 and the 100 SMAs. As the market is consolidating the recent drop the bears might try to break below the 110.00 support to reach 109.40 and 108.60 on the way down. Resistances are seen near the 110.65 level and the 111.00 figure.
   
 
Resistance: 110.65, 111.00, 111.40
Support: 110.00, 109.40, 108.60
 
 

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.