USD/JPY Price Analysis: 5-day SMA again caps gains


  • USD/JPY is bid, but trades below the 5-day SMA. 
  • The pair remains stuck in a falling channel. 

The USD/JPY pair is struggling to penetrate the 5-day Simple Moving Average (SMA) hurdle for the second straight day. 

The pair is currently trading near 103.55, having faced rejection at the descending 5-day SMA of 103.63 a few minutes ago. 

A break above the SMA hurdle would expose the upper end of the falling channel represented by trendlines connecting Jan. 11 and Jan. 19 highs and Jan. 13 and Jan. 21 lows. The channel resistance is seen at 103.95 at press time. 

A close higher would confirm a breakout and signal a continuation of the recovery rally from the Jan. 6 low of 102.59 and allow a re-test of 104.40 (Jan. 11 high). 

On the downside, Thursday's low of 103.33 is the level to beat for the sellers. 

Daily chart

Trend: Neutral

Technical levels

USD/JPY

Overview
Today last price 103.55
Today Daily Change 0.05
Today Daily Change % 0.05
Today daily open 103.5
 
Trends
Daily SMA20 103.57
Daily SMA50 103.83
Daily SMA100 104.53
Daily SMA200 105.73
 
Levels
Previous Daily High 103.67
Previous Daily Low 103.33
Previous Weekly High 104.4
Previous Weekly Low 103.53
Previous Monthly High 104.75
Previous Monthly Low 102.88
Daily Fibonacci 38.2% 103.46
Daily Fibonacci 61.8% 103.54
Daily Pivot Point S1 103.33
Daily Pivot Point S2 103.16
Daily Pivot Point S3 102.99
Daily Pivot Point R1 103.67
Daily Pivot Point R2 103.84
Daily Pivot Point R3 104.01

 

 
 

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