OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY Asia Price Forecast: Greenback exhausted vs. yen, trades below 110.00 figure

  • USD/JPY recovery is likely exhausted below the 109.87 resistance.
  • The level to beat for bears is the 109.64/53 price zone.

USD/JPY daily chart

USD/JPY is trading below the 110.00 figure while within Friday’s range. The spot is holding above the main daily simple moving averages (SMAs).

USD/JPY four-hour chart

The quote is losing steam below the 109.87 resistance while trading above the main SMAs. A break below the 109.64/53 support zone could drive USD/JPY towards the 109.20 level, according to the Technical Confluences Indicator. Resistances are seen near the 109.87 and 110.10 price levels. 
Resistance: 109.87, 110.10, 110.33
Support: 109.64, 109.53, 109.20

Additional key levels


China’s imports of US goods may drop over 10% in Q1 amid virus onslaught - Global Times

In an article published in the Global Times, according to a Global Times Source poll, China's imports of US goods are likely to drop over 10 percent y
Read more Previous

AUD/USD: Recovery fades amid coronavirus, broad US dollar strength

AUD/USD failed to hold onto recovery gains beyond 0.6708 despite snapping two-day winning streak on Monday. The Aussie pair currently takes rounds to
Read more Next
Start livechat