USD/JPY New York Price Forecast: Greenback vulnerable vs. yen below 109.00 figure

USD/JPY remains bearish forming lower lows and lower highs
The level to beat is the 108.30 support.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY erased almost all the gains made in the month of January. The spot is challenging the 200-day simple moving averages (SMA) while below the 109.00 figure

USD/JPY four-hour chart

USD/JPY is grinding lower below the main simple moving averages (SMAs) while making lower lows and lower highs. As the market is weak, a break below the 108.30 level can expose the 108.10 and 107.69 support levels, according to the Technical Confluences Indicator. On the flip side, bullish attempts could find resistance near 108.71, 109.00 and 109.30 levels.

Resistance 108.71, 109.00, 109.30

Support 108.30, 108.10, 107.69

Additional key levels

USD/JPY

Overview
Today last price	108.52
Today Daily Change	0.17
Today Daily Change %	0.16
Today daily open	108.35

Trends
Daily SMA20	109.4
Daily SMA50	109.21
Daily SMA100	108.75
Daily SMA200	108.43

Levels
Previous Daily High	109.14
Previous Daily Low	108.31
Previous Weekly High	109.28
Previous Weekly Low	108.31
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	108.63
Daily Fibonacci 61.8%	108.82
Daily Pivot Point S1	108.06
Daily Pivot Point S2	107.77
Daily Pivot Point S3	107.24
Daily Pivot Point R1	108.89
Daily Pivot Point R2	109.43
Daily Pivot Point R3	109.72

Author

Flavio Tosti

Independent Analyst

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