USD/JPY price analysis: Greenback enters Asia below 108.73 level against yen

USD/JPY is trading near the December lows below its 200 DMA.
Support is seen at the 108.45 and 108.11 levels.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading near the December lows above the 108.50 level and the 50-day simple moving average (DMA). However, the spot is trading below the 200 DMA, which can be a sign of weakness.

USD/JPY four-hour chart

The market is consolidating the early December drop while below the main SMAs. A daily close below the 108.45 support can see the market decline towards the 108.11, 107.90 and 107.66 price levels.

USD/JPY 30-minute chart

The market is trading below downward sloping 100/200 SMA, suggesting a bearish bias in the near term. Resistances are seen near 108.73, 108.95, 109.24 and 109.69 price levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.57
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	108.57

Trends
Daily SMA20	108.87
Daily SMA50	108.53
Daily SMA100	107.81
Daily SMA200	108.86

Levels
Previous Daily High	108.93
Previous Daily Low	108.53
Previous Weekly High	109.73
Previous Weekly Low	108.43
Previous Monthly High	109.67
Previous Monthly Low	107.89
Daily Fibonacci 38.2%	108.68
Daily Fibonacci 61.8%	108.77
Daily Pivot Point S1	108.42
Daily Pivot Point S2	108.28
Daily Pivot Point S3	108.03
Daily Pivot Point R1	108.82
Daily Pivot Point R2	109.07
Daily Pivot Point R3	109.21

Author

Flavio Tosti

Independent Analyst

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