USD/JPY technical analysis: Greenback loses the 107.00 figure against Yen after NFP

USD/JPY loses bullish momentum this Friday as the NFP (Non-farm Payrolls) data disappoints.
The levels to beat for bears is at the 106.70 support level, according to the Technical Confluences Indicator.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a bear trend below the main daily simple moving averages (DSMAs). The market has tested the 107.00 figure and the 50 SMA on the daily time-frame. Earlier in the New York session, the Non-farm Payrolls (NFP) in the United States (US) came in below expectations with only 130K jobs added in August vs. 158K forecast. However, the wages, the Average Hourly Earnings, beat expecations with 3.2% vs. 3.1% forecast.

USD/JPY 4-hour chart

USD/JPY is challenging the 106.31 support level above the main SMAs. Bulls would need a daily close above 106.98 resistance to generate buying interest, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

Dollar/Yen is retreating from the weekly below the 50 SMA, suggesting a potential correction down in the near term. It is likely that bear will try to break below 106.70 to reach 106.32 price level next week, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	106.78
Today Daily Change	-0.16
Today Daily Change %	-0.15
Today daily open	106.94

Trends
Daily SMA20	106.19
Daily SMA50	107.2
Daily SMA100	108.37
Daily SMA200	109.59

Levels
Previous Daily High	107.23
Previous Daily Low	106.32
Previous Weekly High	106.68
Previous Weekly Low	104.45
Previous Monthly High	109.32
Previous Monthly Low	104.45
Daily Fibonacci 38.2%	106.89
Daily Fibonacci 61.8%	106.67
Daily Pivot Point S1	106.43
Daily Pivot Point S2	105.92
Daily Pivot Point S3	105.52
Daily Pivot Point R1	107.34
Daily Pivot Point R2	107.74
Daily Pivot Point R3	108.25

Author

Flavio Tosti

Independent Analyst

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