USD/JPY Technical Analysis: Greenback falls below the 109.00 handle against yen

USD/JPY is trading down as risk-off is favoring the yen.
Support is seen at the 108.41 and 107.96 price levels.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is easing from the November highs while trading below the 109.00 handle and the 200-day simple moving average (DMA) on the daily chart. Risk-off is hurting the greenback and favoring the Japanese yen.

USD/JPY four-hour chart

USD/JPY had a sharp move down below the 109.00 figure and its main SMAs. As the market is weakening, the spot could continue to drift down towards 108.41 and 107.96 price levels, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

USD/JPY is trading below the main SMAs on the 30-minute chart suggesting a bearish momentum in the near term. Resistance is seen at 109.00, 109.31 and the 109.70 price levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.64
Today Daily Change	-0.31
Today Daily Change %	-0.28
Today daily open	108.95

Trends
Daily SMA20	108.96
Daily SMA50	108.45
Daily SMA100	107.77
Daily SMA200	108.91

Levels
Previous Daily High	109.73
Previous Daily Low	108.92
Previous Weekly High	109.67
Previous Weekly Low	108.63
Previous Monthly High	109.67
Previous Monthly Low	107.89
Daily Fibonacci 38.2%	109.23
Daily Fibonacci 61.8%	109.42
Daily Pivot Point S1	108.68
Daily Pivot Point S2	108.4
Daily Pivot Point S3	107.87
Daily Pivot Point R1	109.48
Daily Pivot Point R2	110.01
Daily Pivot Point R3	110.28

Author

Flavio Tosti

Independent Analyst

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD inches lower during the Asian hours on Monday, trading around 1.1870 at the time of writing. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming improving momentum. RSI has cooled from prior overbought readings but stabilizes above 50, suggesting dips could stay limited before buyers reassert control.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold slides below $5,000 amid USD uptick and positive risk tone; downside seems limited

Gold attracts fresh sellers at the start of a new week and reverses a part of Friday's strong move up of over $150 from sub-$4,900 levels. The commodity slides back below the $5,000 psychological mark during the Asian session, though the downside potential seems limited amid a combination of supporting factors.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.