USD/JPY Asia Price Forecast: Greenback bounces back from April lows, trades near 107.40 level

USD/JPY turns higher despite broad-based USD weakness.
The next major hurdle on the way up can be the 108.00 figure.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is bouncing back from the April lows nearing 3-day highs. USD/JPY is moving up amid broad-based USD weakness.

USD/JPY four-hour chart

USD/JPY is regaining the 50 and 100 SMAs on the four-hour chart as the market is picking up steam. The first major hurdle can be located near the 108.00 figure and the 108.70 resistance level. Pullbacks down could find support near the 107.00 and 106.35 level. However, a breach below the 106.35 support can see the market turn lower again towards the 105.70 and 105.00 figure.

Additional key levels

USD/JPY

Overview
Today last price	107.45
Today Daily Change	0.78
Today Daily Change %	0.73
Today daily open	106.67

Trends
Daily SMA20	107.86
Daily SMA50	108.13
Daily SMA100	108.79
Daily SMA200	108.31

Levels
Previous Daily High	106.9
Previous Daily Low	106.36
Previous Weekly High	108.04
Previous Weekly Low	107.28
Previous Monthly High	111.72
Previous Monthly Low	101.18
Daily Fibonacci 38.2%	106.56
Daily Fibonacci 61.8%	106.69
Daily Pivot Point S1	106.39
Daily Pivot Point S2	106.11
Daily Pivot Point S3	105.85
Daily Pivot Point R1	106.93
Daily Pivot Point R2	107.18
Daily Pivot Point R3	107.46

Author

Flavio Tosti

Independent Analyst

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