USD/JPY Price Analysis: 200-day SMA back in focus

USD/JPY snaps four-day winning streak.
111.50 holds the key to February high.
Repeated failures to dip below 110.00 signal intermediate pullback.
The monthly support trend line follows the 200-day SMA.

Anil Panchal FXStreet

Despite repeated failures to take out 110.00, USD/JPY registers 0.54% loss while declining to 110.32 during early Monday.

In doing so, the pair snaps the four-day winning streak while also highlighting 200-day SMA for the bears.

However, a sustained break below 110.00 becomes necessary for the sellers to aim for a 200-day SMA level of 108.28 whereas an upward sloping trend line since March 09, 2020, around 107.50, could question the bears afterward.

Meanwhile, buyers will take entry beyond the monthly top surrounding 111.50, a break of which could challenge February month high near 112.20/25.

USD/JPY daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	110.21
Today Daily Change	-0.71
Today Daily Change %	-0.64%
Today daily open	110.92

Trends
Daily SMA20	107.61
Daily SMA50	108.94
Daily SMA100	108.96
Daily SMA200	108.27

Levels
Previous Daily High	111.51
Previous Daily Low	109.33
Previous Weekly High	111.51
Previous Weekly Low	105.15
Previous Monthly High	112.23
Previous Monthly Low	107.51
Daily Fibonacci 38.2%	110.68
Daily Fibonacci 61.8%	110.16
Daily Pivot Point S1	109.67
Daily Pivot Point S2	108.41
Daily Pivot Point S3	107.49
Daily Pivot Point R1	111.84
Daily Pivot Point R2	112.76
Daily Pivot Point R3	114.02

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD inches lower during the Asian hours on Monday, trading around 1.1870 at the time of writing. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming improving momentum. RSI has cooled from prior overbought readings but stabilizes above 50, suggesting dips could stay limited before buyers reassert control.

GBP/USD flat lines as traders await key UK macro data and FOMC minutes

The GBP/USD pair kicks off a new week on a subdued note and oscillates in a narrow range, just below mid-1.3600s, during the Asian session. Moreover, the mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold slides below $5,000 amid USD uptick and positive risk tone; downside seems limited

Gold attracts fresh sellers at the start of a new week and reverses a part of Friday's strong move up of over $150 from sub-$4,900 levels. The commodity slides back below the $5,000 psychological mark during the Asian session, though the downside potential seems limited amid a combination of supporting factors.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.