USD/JPY Asia Price Forecast: Greenback dips to fresh April lows vs. Japanese yen


  • USD/JPY turns lower on the second day of the week. 
  • The level to beat for bears is the 106.50 support. 
 

USD/JPY daily chart

 
USD/JPY broke to fresh April lows (at 106.56) this Tuesday as the spot trades below the main SMAs on the daily time frame. 
  

USD/JPY four-hour chart

 
USD/JPY is trading below the main SMAs on the four-hour chart suggesting a bearish bias in the medium term. Although the momentum is slow the spot has been consistently losing steam since mid-March. Sellers would be looking for a break below the 106.50 support en route towards the 106.00 and 105.00 levels. On the flip side, USD/JPY is expected to meet resistance near 107.00 and 108.00 resistances. 
 

Additional key levels

USD/JPY

Overview
Today last price 106.88
Today Daily Change -0.36
Today Daily Change % -0.34
Today daily open 107.24
 
Trends
Daily SMA20 107.91
Daily SMA50 108.29
Daily SMA100 108.83
Daily SMA200 108.32
 
Levels
Previous Daily High 107.62
Previous Daily Low 107
Previous Weekly High 108.04
Previous Weekly Low 107.28
Previous Monthly High 111.72
Previous Monthly Low 101.18
Daily Fibonacci 38.2% 107.23
Daily Fibonacci 61.8% 107.38
Daily Pivot Point S1 106.95
Daily Pivot Point S2 106.66
Daily Pivot Point S3 106.32
Daily Pivot Point R1 107.58
Daily Pivot Point R2 107.91
Daily Pivot Point R3 108.2

 

 

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