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Dollar off three-year lows vs. yen, trades sub-104.00 figure

  • USD/JPY is consolidating the selloff seen in the recent weeks. 
  • The level to beat for bears is the 103.60 support.

 

USD/JPY daily chart

 

USD/JPY is bouncing from three-year lows well below the simple moving averages (SMA) as the equity markets worldwide are recovering after a strong selloff on Monday. 

 

USD/JPY four-hour chart

 

USD/JPY is consolidating the recent massive drop below the 105.00 figure. The sellers stay in control and a break below the 103.60 support should extend losses towards the 103.00 and 102.74 levels, according to the Technical Confluences Indicator. 

 

 

Resistance: 104.14, 104.57, 105.00

Support: 103.60, 103.00, 102.74

 

 

 

Additional key levels

 

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