Bears are taking a breather on Friday but remain firmly in play following bearish signal generated on repeated close below pivotal Fibo support at 108.99 (23.6% of 102.59/110.96 / 200WMA).

The pair is also on track for the second consecutive strong bearish weekly close that adds to negative signals.

Bears eye immediate support at 108.40 (Mar 23 trough), violation of which would expose key levels at 108.76/68 (Fibo 38.2% of 102.59/110.96 / 55DMA) with break here to open way for deeper pullback.

Bearish daily techs support scenario with upticks into 109.30 zone (converging 10/30 DMA’s, on track to form bear-cross) to offer better selling opportunities.

Res: 108.99; 109.30; 109.53; 109.95.
Sup: 108.61; 108.40; 107.76; 107.14.


Interested in USD/JPY technicals? Check out the key levels

    1. R3 109.37
    2. R2 109.19
    3. R1 108.97
  1. PP 108.79
    1. S1 108.58
    2. S2 108.4
    3. S3 108.18


The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD extends gains amid dollar weakness

EUR/USD has bounced above 1.2150 as the US dollar resumes its decline in the aftermath of Friday's weak job figures. Uncertainty about the ECB's policy somewhat weighs on the currency while the upbeat Sentix Investor Confidence supports it.


GBP/USD soars to 1.41 after UK elections, US Nonfarm Payrolls

GBP/USD has hit a new three-month high just above 1.41 after the SNP failed to win a majority in Scotland and as the UK is set to extend its reopening. The dollar is still suffering from Friday's weak jobs report.


XAU/USD eyes critical resistance at $1,850

XAU/USD is rising for the fourth straight day on Monday. Next hurdle for gold is located around $1,850. A technical correction could be witnessed before the next leg up.

Gold News

ETH soars above $4,000, as BTC and XRP struggle

Bitcoin price beginning to hint at a complex topping process. Ethereum price shakes off rising wedge pattern to test new Fibonacci extension level.

More Dogecoin News

S&P 500 Nasdaq Day Ahead: No jobs, no bears, no way

Friday's jobs report still looms large over markets this morning with the dollar suffering a pasting at the hands of a resurgent sterling. Yields continue to shrug it off and slumber while the VIX does give a little wobble.

Read more