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  • USD/JPY main trend is getting damaged as USD/JPY broke below 110.10 swing low.  
  • USD/JPY is now facing a strong support level in the 109.91-97 area which is comprised of the 200 and 100-day simple moving average. Since USD/JPY has almost reached its average daily range, downside moves appear limited for this Monday.  
  • A sustained bear breakout below 109.91-97 would confirm a bear continuation move.  

USD/JPY daily chart

Spot rate:                 110.05
Relative change:      -0.41%      
High:                        110.70
Low:                         110.01

Main trend:                       Bullish  
Short-term trend               Bearish below 110.45

Resistance 1    110.10 August 13 swing low
Resistance 2:    110.40 demand level
Resistance 3:    110.58 July 26 swing low
Resistance 4:    110.75, July 23 low
Resistance 5:    110.90 June 15 swing high
Resistance 6:    111.02-111.16 area, figure and current August 6 low
Resistance 7:    111.45 August 8 high
Resistance 8:    111.54-111.64 area, August 6, high and supply/demand level

Support 1:    109.91-97 area, 200 and 100-day simple moving average
Support 2:    110.10 August 13 swing low
Support 3:    109.37 June 25 swing low
Support 4:    109.19 June 8 low