USD/JPY technical analysis: Greenback extends losses against Yen, sub-107.40 level

The Greenback is on the back foot as the ADP came below forecast in the New York session.
The level to beat for sellers is the 107.00 support level.

Flavio Tosti Independent Analyst

USD/JPY daily chart

The USD/JPY currency pair is in a downtrend below the 100 and 200-day simple moving averages (SMAs). The spot is trading below the September highs and the 108.00 handle. This Wednesday, the ADP, the forerunner of the Nonfarm Payrolls on Friday, disappointed the market with only 135k vs. 140k expected in September.

USD/JPY four-hour chart

USD/JPY is under pressure below the 108.40 level and the 50/100 SMAs. The break of 107.40 can expose the 107.00 support level to the downside, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

USD/JPY is under pressure below the main SMAs, suggesting a bearish bias in the near term. Immediate resistances are seen at the 107.40 and 107.60 price levels, according to the Technical Confluences Indicator.

Additional key levels

USD/INR

Overview
Today last price	71.2152
Today Daily Change	0.1045
Today Daily Change %	0.15
Today daily open	71.1107

Trends
Daily SMA20	71.2885
Daily SMA50	71.0087
Daily SMA100	70.1369
Daily SMA200	70.1355

Levels
Previous Daily High	71.242
Previous Daily Low	70.6425
Previous Weekly High	71.37
Previous Weekly Low	70.3685
Previous Monthly High	72.6325
Previous Monthly Low	70.3685
Daily Fibonacci 38.2%	71.013
Daily Fibonacci 61.8%	70.8715
Daily Pivot Point S1	70.7548
Daily Pivot Point S2	70.3989
Daily Pivot Point S3	70.1553
Daily Pivot Point R1	71.3543
Daily Pivot Point R2	71.5979
Daily Pivot Point R3	71.9538

Author

Flavio Tosti

Independent Analyst

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