USD/JPY Price Analysis: Dollar drops to fresh 2020 lows vs yen in response to the Fed shock cut

USD/JPY dropped to fresh 2020 lows following the emergency Fed cut.
The level to beat for bears is the 107.00 support.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading to fresh 2020 lows below the 200-day simple moving averages (SMA) after the Fed decided to cut interest rates in an emergency measure.

USD/JPY four-hour chart

USD/JPY is challenging the 2020 lows while the market is trading below its main SMAs. Bears want a break below the 107.00 figure to trade down towards the 106.72 and 106.38 price levels. Resistance is seen near 107.90 and 108.17 levels.

Resistance: 107.90, 108.17, 108.51

Support: 107.00, 106.72, 106.38

Additional key levels

USD/JPY

Overview
Today last price	107.45
Today Daily Change	-0.99
Today Daily Change %	-0.91
Today daily open	108.44

Trends
Daily SMA20	110.02
Daily SMA50	109.56
Daily SMA100	109.22
Daily SMA200	108.4

Levels
Previous Daily High	108.58
Previous Daily Low	107.38
Previous Weekly High	111.68
Previous Weekly Low	107.51
Previous Monthly High	112.23
Previous Monthly Low	107.51
Daily Fibonacci 38.2%	108.12
Daily Fibonacci 61.8%	107.84
Daily Pivot Point S1	107.68
Daily Pivot Point S2	106.93
Daily Pivot Point S3	106.48
Daily Pivot Point R1	108.88
Daily Pivot Point R2	109.33
Daily Pivot Point R3	110.09

Author

Flavio Tosti

Independent Analyst

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