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10 Mar 2020
USD/JPY Price Analysis: Dollar off three-year lows vs. yen, trades sub-104.00 figure
- USD/JPY is consolidating the selloff seen in the recent weeks.
- The level to beat for bears is the 103.60 support.
USD/JPY daily chart
USD/JPY is bouncing from three-year lows well below the simple moving averages (SMA) as the equity markets worldwide are recovering after a strong selloff on Monday.
USD/JPY four-hour chart
USD/JPY is consolidating the recent massive drop below the 105.00 figure. The sellers stay in control and a break below the 103.60 support should extend losses towards the 103.00 and 102.74 levels, according to the Technical Confluences Indicator.
Resistance: 104.14, 104.57, 105.00
Support: 103.60, 103.00, 102.74
Additional key levels