USD/JPY Price Analysis: Dollar retreating from 10-month highs, trades below 112.00 figure vs. yen

USD/JPY is retreating down after a volatile week.
The consolidation might see USD/JPY trade sideways below the 112.00 figure.

Flavio Tosti Independent Analyst

USD/JPY daily chart

Dollar/Yen broke above an ascending channel while above its main daily simple moving averages (SMAs). The spot is correcting down after two consecutive days of above-average intraday rallies.

USD/JPY four-hour chart

USD/JPY is starting to correct down after an unusual spike to the upside in the last two days. The market is seen going sideways below the 112.00 figure and potentially accelerate down below the 1117.17/110.71 resistance zone, according to the Technical Confluences Indicator. On the flip side, bulls are looking for a daily close above 112.57/91 in order to extend to bull move.

Resistance: 112.00, 112.57, 112.91

Support: 111.41, 111.17, 110.71

Additional key levels

USD/JPY

Overview
Today last price	111.69
Today Daily Change	-0.39
Today Daily Change %	-0.35
Today daily open	112.08

Trends
Daily SMA20	109.68
Daily SMA50	109.5
Daily SMA100	109.07
Daily SMA200	108.4

Levels
Previous Daily High	112.23
Previous Daily Low	111.11
Previous Weekly High	110.14
Previous Weekly Low	109.56
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	111.8
Daily Fibonacci 61.8%	111.54
Daily Pivot Point S1	111.38
Daily Pivot Point S2	110.69
Daily Pivot Point S3	110.27
Daily Pivot Point R1	112.5
Daily Pivot Point R2	112.92
Daily Pivot Point R3	113.61

Author

Flavio Tosti

Independent Analyst

EUR/USD recovers above 1.1600 as focus shifts to US data

EUR/USD stages a modest rebound and trades in positive territory above 1.1600 in the European session on Wednesday. Improving risk sentiment makes it difficult for the US Dollar to preserve its strength and helps the pair edge higher as focus shifts to key US data releases.

GBP/USD climbs above 1.3350 on improving risk mood

GBP/USD gains traction and advances toward 1.3400 on Wednesday. Although there are no headlines pointing to a de-escalation in the Middle East conflict, the modest recovery seen in US stock index futures limit the USD's gains and help the pair hold its ground.

Gold rebounds toward $5,200 as USD retreats

Gold maintains its offered tone through European session on Wednesday and climbs to the $5,200 region. The downward correction seen in the US Dollar and the ongoing crsis in the Middle East seem to be allowing XAU/USD to preserve its recovery momentum.

ADP Employment Report set to signal stronger February jobs growth, little effect on Fed outlook

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday. The so-called ADP Employment Change report is expected to show that the United States private sector added 50K new positions in the month, following the 22K gained in January.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.