USD/JPY Asia Price Forecast: Greenback stabilizes below the 110.00 figure

USD/JPY is challenging the 109.85 resistance.
The rising wedge formation can limit the bullish pressure.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY eased below the 110.00 figure while trading above its main daily simple moving averages (SMAs). The spot is still hovering near the 2020 highs.

USD/JPY four-hour chart

USD/JPY broke below a rising wedge pattern while above the main SMAs. The spot is challenging the 109.85 resistance as bulls want to break above the level to revisit the 110.10 level. On the flip side, bears are eyeing a break below the 109.65/53 support zone to drop the market towards the 109.20 level, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	109.81
Today Daily Change	-0.26
Today Daily Change %	-0.24
Today daily open	110.07

Trends
Daily SMA20	109.53
Daily SMA50	109.3
Daily SMA100	108.9
Daily SMA200	108.38

Levels
Previous Daily High	110.14
Previous Daily Low	109.77
Previous Weekly High	110.02
Previous Weekly Low	108.32
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	110
Daily Fibonacci 61.8%	109.91
Daily Pivot Point S1	109.85
Daily Pivot Point S2	109.63
Daily Pivot Point S3	109.48
Daily Pivot Point R1	110.22
Daily Pivot Point R2	110.36
Daily Pivot Point R3	110.58

Author

Flavio Tosti

Independent Analyst

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