USD/JPY Price Analysis: Dollar eases from session highs vs. yen, trades sub-110.00 level

USD/JPY sideways theme remains intact in the first half of the week.
The rising wedge pattern can limit bullish advances.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is extending the ranging theme for the 10th consecutive day as the spot is trading off February highs and below the 110.00 figure. The quote is trading above the main daily simple moving averages (SMAs) on the daily time frame.

USD/JPY four-hour chart

USD/JPY broke below a rising wedge formation while above the 100/200 SMAs. The quote is trading sideways below the 109.94 resistance and the 50 SMA on the four-hour chart. Bears are probably looking for a break below the 109.58 support and to drive the market towards 109.30 and 108.95 price levels. On the flip side, a daily close above the 110.15 resistance might invalidate the bearish scenario, according to the Technical Confluences Indicator.

Resistance: 109.94, 110.15, 110.32

Support: 109.58, 109.30, 108.95

Additional key levels

USD/JPY

Overview
Today last price	109.79
Today Daily Change	-0.14
Today Daily Change %	-0.13
Today daily open	109.93

Trends
Daily SMA20	109.48
Daily SMA50	109.37
Daily SMA100	108.95
Daily SMA200	108.38

Levels
Previous Daily High	109.96
Previous Daily Low	109.72
Previous Weekly High	110.14
Previous Weekly Low	109.56
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	109.87
Daily Fibonacci 61.8%	109.81
Daily Pivot Point S1	109.78
Daily Pivot Point S2	109.63
Daily Pivot Point S3	109.54
Daily Pivot Point R1	110.02
Daily Pivot Point R2	110.11
Daily Pivot Point R3	110.26

Author

Flavio Tosti

Independent Analyst

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