USD/JPY Asia Price Forecast: Greenback grinds up above the 110.00 figure vs. yen

USD/JPY is challenging the 110.10 resistance level.
The rising wedge pattern can limit the bullish run.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY broke above the 110.00 figure while trading above its main daily simple moving averages (SMAs). Bulls are eyeing at the 2020 highs.

USD/JPY four-hour chart

USD/JPY is trading in a rising wedge while above the main SMAs. The spot is challenging the 110.10 resistance and bulls want to break above it to reach January highs near the 110.34 level. A break above the January highs can lead to an acceleration towards the 110.60 level. Support is seen at the 109.92, 109.65 and 109.30 levels, according to the Technical Confluences Indicator.

Resistance: 110.10, 110.34, 110.60

Support: 109.92, 109.65, 109.30

Additional key levels

USD/JPY

Overview
Today last price	110.09
Today Daily Change	0.31
Today Daily Change %	0.28
Today daily open	109.78

Trends
Daily SMA20	109.52
Daily SMA50	109.27
Daily SMA100	108.88
Daily SMA200	108.38

Levels
Previous Daily High	109.97
Previous Daily Low	109.73
Previous Weekly High	110.02
Previous Weekly Low	108.32
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	109.87
Daily Fibonacci 61.8%	109.82
Daily Pivot Point S1	109.68
Daily Pivot Point S2	109.59
Daily Pivot Point S3	109.44
Daily Pivot Point R1	109.92
Daily Pivot Point R2	110.06
Daily Pivot Point R3	110.16

Author

Flavio Tosti

Independent Analyst

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