USD/JPY Price Analysis: Dollar accelerates correction down below 111.00 figure vs. yen

USD/JPY is starting the week trading sharply down after a large bullish breakout last week.
The correction down is extending below the 111.00 level.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in an ascending channel while trading above the main daily simple moving averages (SMAs). The market is correcting down after two consecutive days of above-average intraday rallies.

USD/JPY four-hour chart

Dollar/Yen is correcting down sharply after a very volatile last week. The spot is challenging the 110.65 support and a break below it could lead to further losses to the 110.35 and 109.80 levels. Resistance can be found near the 111.65 level, according to the Technical Confluences Indicator.

Resistance: 111.65, 112.00, 112.46

Support: 110.65, 110.35, 109.80

Additional key levels

USD/JPY

Overview
Today last price	111.59
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	111.59

Trends
Daily SMA20	109.8
Daily SMA50	109.54
Daily SMA100	109.11
Daily SMA200	108.41

Levels
Previous Daily High	112.19
Previous Daily Low	111.47
Previous Weekly High	112.23
Previous Weekly Low	109.66
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	111.75
Daily Fibonacci 61.8%	111.91
Daily Pivot Point S1	111.31
Daily Pivot Point S2	111.04
Daily Pivot Point S3	110.6
Daily Pivot Point R1	112.03
Daily Pivot Point R2	112.47
Daily Pivot Point R3	112.74

USD/JPY

Overview
Today last price	111.59
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	111.59

Trends
Daily SMA20	109.8
Daily SMA50	109.54
Daily SMA100	109.11
Daily SMA200	108.41

Levels
Previous Daily High	112.19
Previous Daily Low	111.47
Previous Weekly High	112.23
Previous Weekly Low	109.66
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	111.75
Daily Fibonacci 61.8%	111.91
Daily Pivot Point S1	111.31
Daily Pivot Point S2	111.04
Daily Pivot Point S3	110.6
Daily Pivot Point R1	112.03
Daily Pivot Point R2	112.47
Daily Pivot Point R3	112.74

Author

Flavio Tosti

Independent Analyst

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