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  • USD/JPY is losing steam on US dollar weakness. 
  • USD/JPY is about to challenge the 107.00 support. 
 

USD/JPY daily chart

 
USD/JPY is trading below the main DMA (daily simple moving average) on the daily chart as the spot is nearing the April’s lows. 
 
 

USD/JPY four-hour chart

 
USD/JPY is trading below the main SMAs on the four-hour chart suggesting a negative bias in the medium term. The spot is nearing the 107.00 figure near April’s lows. A break below the mentioned level could imply further losses towards the 106.00 or the 105.00 levels. Resistance can be seen near the 108.00 and 108.70 levels.  
 

Additional key levels