USD/JPY New York Price Forecast: Dollar slumps near four-week’s lows vs. yen

USD/JPY is dropping sharply below the 110.00 figure as the market is nearing the 200-day SMA.
The level to beat for bears is the 108.25 support.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is reversing down sharply from the 2020 tops while nearing the 200-day simple moving averages (SMA).

USD/JPY four-hour chart

USD/JPY lost about 150 pips since the New York close on Thursday. The spot remains weak as sellers remain in control. The market as potentially rooom to fall further towards 108.25, 107.65 and the 107.35 level the way down. Resistances can be expected near the 108.78 and 109.34 levels

Resistance: 108.78, 109.34, 109.68

Support: 108.25, 107.65, 107.35

Additional key levels

USD/JPY

Overview
Today last price	108.52
Today Daily Change	-1.32
Today Daily Change %	-1.20
Today daily open	109.84

Trends
Daily SMA20	110.05
Daily SMA50	109.61
Daily SMA100	109.23
Daily SMA200	108.41

Levels
Previous Daily High	110.47
Previous Daily Low	109.69
Previous Weekly High	112.23
Previous Weekly Low	109.66
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	109.99
Daily Fibonacci 61.8%	110.18
Daily Pivot Point S1	109.53
Daily Pivot Point S2	109.22
Daily Pivot Point S3	108.75
Daily Pivot Point R1	110.31
Daily Pivot Point R2	110.78
Daily Pivot Point R3	111.09

Author

Flavio Tosti

Independent Analyst

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