USD/JPY Hits Fresh Daily Lows as Sentiment Deteriorates
fell briefly below 108.50 and posted fresh daily lows as the dollar
weakened across the board while the yen benefitted from worsened market
USD/JPY bottomed out at 108.43 at the beginning of the New York session, weighed further down for a negative opening in Wall Street. At time of writing, USD/JPY is trading at the 108.60 zone, still 0.59% below its opening price.
USD/JPY levels to consider
As for technical levels, next supports could be found at 108.26 (May 10 low), 107.49 (10-day SMA) and 107.07 (May 9 low). On the other hand, resistances are seen at 109.36 (May 11 high), 110.06 (100-week SMA) and 110.61 (50-day SMA)