Feb 10, 2020
USD/JPY New York Price Analysis: Greenback vulnerable below 109.92 resistance vs. yen
- USD/JPY recovery is running out of steam below the 109.92 resistance
- The level to beat for bears is the 109.65 support.
USD/JPY daily chart
USD/JPY is trading within Friday’s range rejecting the 110.00 figure while above the main simple moving averages (SMAs).
USD/JPY four-hour chart
The spot is losing steam below the 109.92 resistance. As the market is weakening bears will likely try to break below the 109.65 support and drive the quote towards the 109.46 and 109.30 levels, according to the Technical Confluences Indicator. Resistances are seen near the 109.92 and 110.30 price levels.
Resistance: 109.92, 110.30, 110.49
Support: 109.65, 109.46, 109.30
Additional key levels