USD/JPY Price Analysis: Greenback trades at three-day lows vs. yen, nearing 109.00 handle

USD/JPY is breaking to the downside below the 109.28 level.
The level to beat for bears is the 109.05 support.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading off the December highs below the 109.50 level, which was a strong support/ resistance level throughout the year.

USD/JPY four-hour chart

The bulls are losing their grip as the market is trading at its lowest in three-day and breaks below the 109.28 level. The spot is challenging the 50 SMA on the four-hour chart as bears are probably setting their eyes on 109.05 and 108.60 price levels, according to the Technical Confluences Indicator. A recovery could find resistance at the 108.28 level, followed by 109.44 and 109.68.

Additional key levels

USD/JPY

Overview
Today last price	109.21
Today Daily Change	-0.35
Today Daily Change %	-0.32
Today daily open	109.56

Trends
Daily SMA20	109.04
Daily SMA50	108.82
Daily SMA100	107.86
Daily SMA200	108.77

Levels
Previous Daily High	109.63
Previous Daily Low	109.4
Previous Weekly High	109.71
Previous Weekly Low	108.43
Previous Monthly High	109.67
Previous Monthly Low	107.89
Daily Fibonacci 38.2%	109.54
Daily Fibonacci 61.8%	109.49
Daily Pivot Point S1	109.43
Daily Pivot Point S2	109.3
Daily Pivot Point S3	109.2
Daily Pivot Point R1	109.66
Daily Pivot Point R2	109.76
Daily Pivot Point R3	109.89

Author

Flavio Tosti

Independent Analyst

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