USD/JPY Technical Analysis: Greenback collapses towards 110.00 handle on dovish FOMC

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading below the 100 and 200 SMAs suggesting bearish momentum.
The FOMC was much more dovish than expected sending USD down across the board.

USD/JPY 4-hour chart

USD/JPY is trading below its main SMAs suggesting bearish momentum in the medium-term.

USD/JPY 30-minute chart

USD/JPY is trading below its main SMAs suggesting bearish momentum in the short-term.
The next key support is at the 110.00 level.
Resistances are at 111.00 and 111.30 level.

Additional key levels

USD/JPY

Overview
Today last price	110.65
Today Daily Change	-0.75
Today Daily Change %	-0.67
Today daily open	111.4

Trends
Daily SMA20	111.3
Daily SMA50	110.27
Daily SMA100	111.27
Daily SMA200	111.45

Levels
Previous Daily High	111.54
Previous Daily Low	111.16
Previous Weekly High	111.9
Previous Weekly Low	110.88
Previous Monthly High	111.5
Previous Monthly Low	108.73
Daily Fibonacci 38.2%	111.3
Daily Fibonacci 61.8%	111.39
Daily Pivot Point S1	111.19
Daily Pivot Point S2	110.98
Daily Pivot Point S3	110.81
Daily Pivot Point R1	111.57
Daily Pivot Point R2	111.74
Daily Pivot Point R3	111.95

Author

Flavio Tosti

Independent Analyst

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold sticks to a negative bias below $5,000; lacks bearish conviction

Gold remains depressed for the second consecutive day and trades below the $5,000 psychological mark during the Asian session on Tuesday, as a positive risk tone is seen undermining safe-haven assets. Meanwhile, bets for more interest rate cuts by the Fed keep a lid on the recent US Dollar bounce and act as a tailwind for the non-yielding bullion, warranting caution for bearish traders ahead of FOMC minutes on Wednesday.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

US CPI is cooling but what about inflation?

The January CPI data give the impression that the Federal Reserve is finally winning the war against inflation. Not only was the data cooler than expected, but it’s also beginning to edge close to the mystical 2 percent target. CBS News called it “the best inflation news we've had in months.”

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.