USD/JPY technical analysis: Greenback under pressure at 6-day lows, sub-108.00

USD/JPY is under pressure at 6-day lows.
107.85 is the level to beat for bears.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is under pressure at 6-day lows below the main daily simple moving average (DSMA).

USD/JPY 4-hour chart

The market is under pressure below 108.28 resistance and its main SMAs. A break below 107.85 could lead to more down towards 107.55 and 107.30 support, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

USD/JPY is trading below its main SMAs suggesting bearish momentum in the near term. Immediate resistance can be seen at 108.10 and 108.28, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	107.91
Today Daily Change	0.01
Today Daily Change %	0.01
Today daily open	107.9

Trends
Daily SMA20	108.03
Daily SMA50	108.79
Daily SMA100	110.09
Daily SMA200	110.77

Levels
Previous Daily High	108.61
Previous Daily Low	107.8
Previous Weekly High	109
Previous Weekly Low	107.8
Previous Monthly High	108.8
Previous Monthly Low	106.78
Daily Fibonacci 38.2%	108.11
Daily Fibonacci 61.8%	108.3
Daily Pivot Point S1	107.6
Daily Pivot Point S2	107.3
Daily Pivot Point S3	106.79
Daily Pivot Point R1	108.41
Daily Pivot Point R2	108.92
Daily Pivot Point R3	109.22

Author

Flavio Tosti

Independent Analyst

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

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.