USD/JPY bounces after hitting fresh daily lows

USD/JPY edged lower at the beginning of the American session while US equities trade slightly lower, but still near record highs.

USD/JPY slid to a fresh daily low of 105.26, but remained well above Friday’s lows and the 100-hour SMA which stands as immediate dynamic support at 105.10. At time of writing, the pair is trading at 105.56, 0.84% above its last week’s close.

USD/JPY levels to watch

In terms of technical levels, next supports could be found at 105.10 (100-hour SMA), 103.90 (Jul 13 low) and 103.26 (20-day SMA). On the flip side, resistances line up at 106.23/30 (50-day SMA/Jul 15 high), 106.80 (Jun 24 high) and 107.89 (Jun 7 high).