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2 Aug 2019
USD/JPY technical analysis: Greenback below 107.00, declines to multi-month lows after lukewarm US NFP
- USD/JPY is dropping below the June’s low while trading below the 107.00 mark.
- In the United States, Nonfarm Payrolls came in line with expectation with 144K jobs in July while wages came in better-than-expected at 3.2% vs. 3.1% forecast.
- The level to beat for bears are seen at 107.20, 107.50 and at the 107.82 support.
USD/JPY daily chart
USD/JPY is challenging the June lows while trading in a bear trend below its main daily simple moving averages (DSMAs).
USD/JPY 4-hour chart
USD/JPY is trading below its main SMAs, suggesting a bearish bias in the medium term. Bears expect the decline to continue towards 106.65, 106.54, 106.15 and the 105.85 support, according to the Technical Confluences Indicator.
USD/JPY 30-minute chart
The market is trading below the major SMAs, suggesting a bearish bias in the short term. Resistances are seen near 107.20, 107.50 and the 107.82 levels, according to the Technical Confluences Indicator.
Additional key levels