USD/JPY Price Analysis: Bears await entry below 107.40 as risk-off mood intensifies


  • USD/JPY refreshes two-day low under 107.50 following the fresh risk aversion wave.
  • BOJ’s stimulus for small and medium-sized firms, updates from China heavy the pair.
  • A 12-day-old support line, 200-bar EMA restrict immediate declines.

USD/JPY extends its post-BOJ fall to refresh the intraday low of 107.44, down 0.14%, during the pre-European session on Friday.

In addition to the BOJ’s status-quo, the latest updates from China’s 13th National People's Congress (NPC) also exert downside pressure on the pair.

Even so, the sellers await a clear break below an upward sloping trend line from May 06, as well as trading under 200-bar EMA, currently near 107.40, to further stretch the south-run towards 107.00 round-figure.

In a case where the pair keep declining below 107.00, May 13 low near 106.75 will be on the bears’ radars.

On the contrary, buyers will hesitate to enter unless the pair crosses 107.85. Following that, multiple highs marked since mid-April around 108.10 becomes the key to watch.

USD/JPY four-hour chart

Trend: Further downside expected

Additional important levels

Overview
Today last price 107.5
Today Daily Change -0.11
Today Daily Change % -0.10%
Today daily open 107.61
 
Trends
Daily SMA20 107.05
Daily SMA50 107.9
Daily SMA100 108.44
Daily SMA200 108.31
 
Levels
Previous Daily High 107.85
Previous Daily Low 107.49
Previous Weekly High 107.77
Previous Weekly Low 106.5
Previous Monthly High 109.38
Previous Monthly Low 106.36
Daily Fibonacci 38.2% 107.71
Daily Fibonacci 61.8% 107.63
Daily Pivot Point S1 107.45
Daily Pivot Point S2 107.29
Daily Pivot Point S3 107.08
Daily Pivot Point R1 107.81
Daily Pivot Point R2 108.01
Daily Pivot Point R3 108.17

 

 

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