News

USD/JPY Price Analysis: Greenback consolidates below the 110.00 resistance

  • USD/JPY recovery is showing sign of exhaustion below the 109.87 resistance.
  • The level to beat for sellers is the 109.64/53 price zone.
 

USD/JPY daily chart

 
USD/JPY is trading below the 110.00 figure while consolidating the recent gains for the third day in a row. USD/JPY is holding above the main daily simple moving averages (SMAs).
 

USD/JPY four-hour chart

 
The spot is losing bullish momentum below the 109.87 resistance while trading above the main SMAs. If the bears have a break below the 109.64/53 support zone, USD/JPY might pull back down towards the 109.20 level, according to the Technical Confluences Indicator. Resistances are seen near the 109.87 and 110.10 price levels. 
 
    
Resistance: 109.87, 110.10, 110.33
Support: 109.64, 109.53, 109.20
 

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.