USD/JPY Technical Analysis: Solid 370-pip recovery from the flash crash as 109.70 is on the cards

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is having a deep pullback below the 50, 100 and 200-period simple moving averages (SMAs).
USD/JPY recovered 370 pips from the flash crash last week.

USD/JPY 4-hour chart

The 109.00 figure is likely going to be the next level to beat for bulls and the one to defend for bears.
USD/JPY is trading below its main SMAs suggesting that bears have still the medium-term momentum on their side.

USD/JPY 30-minute chart

USD/JPY bulls reclaimed the main SMAs as the next bullish objectives become 109.00 and 109.70.
To the downside, 108.00 figure is likely going to hold as support.

Additional key levels

USD/JPY

Overview:
    Today Last Price: 108.71
    Today Daily change: 25 pips
    Today Daily change %: 0.230%
    Today Daily Open: 108.46
Trends:
    Previous Daily SMA20: 111.24
    Previous Daily SMA50: 112.44
    Previous Daily SMA100: 112.28
    Previous Daily SMA200: 111.1
Levels:
    Previous Daily High: 108.6
    Previous Daily Low: 107.47
    Previous Weekly High: 110.48
    Previous Weekly Low: 104.75
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Previous Daily Fibonacci 38.2%: 108.16
    Previous Daily Fibonacci 61.8%: 107.9
    Previous Daily Pivot Point S1: 107.75
    Previous Daily Pivot Point S2: 107.04
    Previous Daily Pivot Point S3: 106.62
    Previous Daily Pivot Point R1: 108.88
    Previous Daily Pivot Point R2: 109.3
    Previous Daily Pivot Point R3: 110.01

Author

Flavio Tosti

Independent Analyst

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