USD/JPY technical analysis: Greenback drops to daily lows, trades above the 109.00 handle

USD/JPY dropped to daily fresh daily lows however still holding onto weekly gains.
The level to beat for buyers is the 109.29 resistance.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading above the 109.00 handle and the 200-day simple moving average (SMA) on the daily chart. In the last two months the market has been gaining considerable momentum.

USD/JPY four-hour chart

The spot is trading above its main SMAs on the four-hour chart, suggesting a bullish bias in the medium term. The market is battling with the 109.29 resistance, now trading just below it. Resistances on the way up are seen at the 109.85 and 110.20 price levels, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

USD/JPY is trading above the upward sloping 100 and 200 SMAs, suggesting a bullish momentum in the near term. Support is seen at the 109.00 figure followed by the 108.55 and 108.27 levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	109.19
Today Daily Change	-0.08
Today Daily Change %	-0.07
Today daily open	109.27

Trends
Daily SMA20	108.67
Daily SMA50	107.92
Daily SMA100	107.62
Daily SMA200	109.04

Levels
Previous Daily High	109.49
Previous Daily Low	108.65
Previous Weekly High	109.29
Previous Weekly Low	107.89
Previous Monthly High	109.29
Previous Monthly Low	106.48
Daily Fibonacci 38.2%	109.17
Daily Fibonacci 61.8%	108.97
Daily Pivot Point S1	108.78
Daily Pivot Point S2	108.29
Daily Pivot Point S3	107.94
Daily Pivot Point R1	109.63
Daily Pivot Point R2	109.98
Daily Pivot Point R3	110.47

Author

Flavio Tosti

Independent Analyst

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