- USD/JPY bulls failed to regain the ground lost on Thursday.
- USD/JPY is losing momentum as it is trading below its daily 200-period simple moving average.
- If bears can keep USD/JPY below the 110.00 figure in the coming days, bulls can give up potentially opening the gates to further losses.
USD/JPY 15-minute chart
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Spot rate: 109.94
Relative change: -0.04%
High: 110.23
Low: 109.80
Trend: Neutral to bearish
Resistance 1: 110.23-110.27 area, weekly 50-period SMA, daily 200-period SMA
Resistance 2: 110.56 supply zone
Resistance 3: 110.92-111.00 last week’s high and figure
Resistance 4: 111.41 May 21 high
Support 1: 109.84-110.00 area, daily 20-period SMA and figure
Support 2: 109.55 June 19 low
Support 3: 109.19 June 8 low
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