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USD/JPY Price Analysis: US dollar struggles vs. Japanese yen as bears approach the 107.00 handle

  • USD/JPY is easing from March’s tops while breaking below the main SMAs on the four-hour chart. 
  • The level to beat for bears is the 107.00 figure. 
 

USD/JPY daily chart

 
USD/JPY is pulling back down from the March’s tops as the spot broke below the 200 SMA on the daily chart. 
 

USD/JPY four-hour chart

 
USD/JPY is trading below the main SMAS suggesting a bearish momentum in the medium term. A break below the 107.00 figure can lead to further declines towards the 105.00 and 103.00 levels. Resistance can be seen near the 108.80, 110.00 and 111.00 price levels. 
 
 
Resistance: 108.80, 110.00, 111.00 
Support: 107.00, 105.00 103.00
 

Additional key levels

USD/JPY

Overview
Today last price107.3
Today Daily Change-0.27
Today Daily Change %-0.25
Today daily open107.57
 
Trends
Daily SMA20107.7
Daily SMA50108.87
Daily SMA100109
Daily SMA200108.33
 
Levels
Previous Daily High108.73
Previous Daily Low107.46
Previous Weekly High111.72
Previous Weekly Low107.76
Previous Monthly High111.72
Previous Monthly Low101.18
Daily Fibonacci 38.2%107.95
Daily Fibonacci 61.8%108.25
Daily Pivot Point S1107.11
Daily Pivot Point S2106.65
Daily Pivot Point S3105.84
Daily Pivot Point R1108.38
Daily Pivot Point R2109.19
Daily Pivot Point R3109.65

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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