USD/JPY Asia Price Forecast: Dollar pressured near six-day lows vs. Yen, challenging 110.00 figure

USD/JPY is consolidating after the recent drop from the 2020 tops.
The level to beat for bears is the 110.00 figure.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a bulls channel while trading above its main daily simple moving averages (SMAs). However, the quote is retracing down sharply after a massive breakout last week.

USD/JPY four-hour chart

USD/JPY is about to end the New York session below the 110.00 support and the 200 SMA. The quote remains vulnerable to the downside as sellers might generate a drop towards the 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

USD/CAD

Overview
Today last price	1.3388
Today Daily Change	0.0071
Today Daily Change %	0.53
Today daily open	1.3317

Trends
Daily SMA20	1.3268
Daily SMA50	1.3157
Daily SMA100	1.3178
Daily SMA200	1.3212

Levels
Previous Daily High	1.3333
Previous Daily Low	1.3272
Previous Weekly High	1.328
Previous Weekly Low	1.3202
Previous Monthly High	1.3255
Previous Monthly Low	1.29
Daily Fibonacci 38.2%	1.331
Daily Fibonacci 61.8%	1.3295
Daily Pivot Point S1	1.3281
Daily Pivot Point S2	1.3246
Daily Pivot Point S3	1.322
Daily Pivot Point R1	1.3343
Daily Pivot Point R2	1.3369
Daily Pivot Point R3	1.3404

Author

Flavio Tosti

Independent Analyst

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