USD/JPY New York Price Analysis: Greenback stable near 107.40 vs. Japanese yen after US inflation data

USD/JPY is unfazed after the release of the US CPI which came in worst-than-expected.
Support can be seen near the 107.00 price level.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY remains essentially directionless while trading below the main SMAs as the recent US inflation dated disappointed.

USD/JPY four-hour chart

USD/JPY is trading off the May highs just below the 200 SMA on the four-hour chart. Bulls want a continuation of the upward movement started a few days ago with an initial target of 108.20 followed by the 109.00 level. Conversely, sellers will be looking for a break below the 107.00 level and run towards the 106.30 level in the medium-term.

Additional key levels

USD/JPY

Overview
Today last price	107.41
Today Daily Change	-0.25
Today Daily Change %	-0.23
Today daily open	107.66

Trends
Daily SMA20	107.16
Daily SMA50	107.59
Daily SMA100	108.57
Daily SMA200	108.26

Levels
Previous Daily High	107.77
Previous Daily Low	106.5
Previous Weekly High	107.07
Previous Weekly Low	105.99
Previous Monthly High	109.38
Previous Monthly Low	106.36
Daily Fibonacci 38.2%	107.29
Daily Fibonacci 61.8%	106.99
Daily Pivot Point S1	106.86
Daily Pivot Point S2	106.05
Daily Pivot Point S3	105.59
Daily Pivot Point R1	108.12
Daily Pivot Point R2	108.58
Daily Pivot Point R3	109.39

Author

Flavio Tosti

Independent Analyst

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