USD/JPY Technical Analysis: Greenback collapses towards 110.00 handle on dovish FOMC

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USD/JPY daily chart

  • USD/JPY is trading below the 100 and 200 SMAs suggesting bearish momentum. 
  • The FOMC was much more dovish than expected sending USD down across the board.

USD/JPY 4-hour chart

  • USD/JPY is trading below its main SMAs suggesting bearish momentum in the medium-term.

USD/JPY 30-minute chart

  • USD/JPY is trading below its main SMAs suggesting bearish momentum in the short-term.
  • The next key support is at the 110.00 level. 
  • Resistances are at 111.00 and 111.30 level.
     

 

Additional key levels

 

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