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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. 
 

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 price109.21
Today Daily Change-0.35
Today Daily Change %-0.32
Today daily open109.56
 
Trends
Daily SMA20109.04
Daily SMA50108.82
Daily SMA100107.86
Daily SMA200108.77
 
Levels
Previous Daily High109.63
Previous Daily Low109.4
Previous Weekly High109.71
Previous Weekly Low108.43
Previous Monthly High109.67
Previous Monthly Low107.89
Daily Fibonacci 38.2%109.54
Daily Fibonacci 61.8%109.49
Daily Pivot Point S1109.43
Daily Pivot Point S2109.3
Daily Pivot Point S3109.2
Daily Pivot Point R1109.66
Daily Pivot Point R2109.76
Daily Pivot Point R3109.89

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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