USD/JPY Price Analysis: Greenback vulnerable below the 110.00 figure vs. yen

USD/JPY is breaking down from a rising wedge pattern.
USD/JPY is set to decline to the 109.55 level.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is retracing down after the January spike near the 110.00 figure above the main simple moving averages (SMAs). The spot is pulling back down from its highest point since mid-May 2019.

USD/JPY four-hour chart

USD/JPY is breaking down from a rising wedge formation while trading above the 100/200 SMAs. Sellers are putting the 109.85 support under pressure below the 50 SMA. If the 109.85 level is taken out, the sellers could lead the market down to the 109.55 level, according to the Technical Confluences Indicator. Resistance is seen at the 110.05 level.

Additional key levels

USD/JPY

Overview
Today last price	109.87
Today Daily Change	0.06
Today Daily Change %	0.05
Today daily open	109.81

Trends
Daily SMA20	109.32
Daily SMA50	109.13
Daily SMA100	108.61
Daily SMA200	108.55

Levels
Previous Daily High	110.23
Previous Daily Low	109.76
Previous Weekly High	110.3
Previous Weekly Low	109.46
Previous Monthly High	109.8
Previous Monthly Low	108.43
Daily Fibonacci 38.2%	109.94
Daily Fibonacci 61.8%	110.05
Daily Pivot Point S1	109.64
Daily Pivot Point S2	109.47
Daily Pivot Point S3	109.17
Daily Pivot Point R1	110.11
Daily Pivot Point R2	110.4
Daily Pivot Point R3	110.57

Author

Flavio Tosti

Independent Analyst

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