USD/JPY sits near session tops, just below mid-108.00s
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Dollar drops to fresh 2020 lows vs yen in response to the Fed shock cut



USD/JPY daily chart


USD/JPY is trading to fresh 2020 lows below the 200-day simple moving averages (SMA) after the Fed decided to cut interest rates in an emergency measure. 


USD/JPY four-hour chart


USD/JPY is challenging the 2020 lows while the market is trading below its main SMAs. Bears want a break below the 107.00 figure to trade down towards the 106.72 and 106.38 price levels. Resistance is seen near 107.90 and 108.17 levels.



Resistance: 107.90, 108.17, 108.51

Support: 107.00, 106.72, 106.38




Additional key levels


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