USD/JPY Technical Analysis: Greenback fading the 110.70 resistance

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a deep pullback below the 200-day simple moving averages (SMAs) on the daily chart.
As discussed, USD/JPY is losing steam below 110.70 resistance.

USD/JPY 4-hour chart

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

USD/JPY 30-minute chart

USD/JPY found resistance near 110.70 and the 200 SMA suggesting a decline in price in the sessions ahead.
Supports to the downside are seen near 110.30 and 109.80 level.
A decisive breakout above 110.70 key level would likely invalidate the bearish scenario and could see the 111.00 level revisited.

Additional key levels

USD/JPY

Overview:
    Today Last Price: 110.53
    Today Daily change: -6 pips
    Today Daily change %: -0.05%
    Today Daily Open: 110.59
Trends:
    Daily SMA20: 109.86
    Daily SMA50: 110.12
    Daily SMA100: 111.58
    Daily SMA200: 111.31
Levels:
    Previous Daily High: 110.62
    Previous Daily Low: 110.42
    Previous Weekly High: 111.13
    Previous Weekly Low: 109.7
    Previous Monthly High: 110
    Previous Monthly Low: 104.75
    Daily Fibonacci 38.2%: 110.54
    Daily Fibonacci 61.8%: 110.5
    Daily Pivot Point S1: 110.47
    Daily Pivot Point S2: 110.35
    Daily Pivot Point S3: 110.28
    Daily Pivot Point R1: 110.66
    Daily Pivot Point R2: 110.73
    Daily Pivot Point R3: 110.85

Author

Flavio Tosti

Independent Analyst

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