USD/JPY Technical Analysis: Greenback dropping to daily lows and approaching 110.00 figure

USD/JPY daily chart

• USD/JPY is declining below its 200-day simple moving average (SMA).

USD/JPY 4-hour chart

• USD/JPY is trading below its 200 SMA suggesting a bearish bias in the medium-term.

USD/JPY 30-minute chart

• USD/JPY broke below the 111.30 support as the market is trading below its main SMAs.
• Bears are in a favorable position to target 110.80 key support.
• Looking up, resistance is seen at 111.30 and 111.50 level.

Additional key levels