- USD/JPY holds onto recovery gains from key SMA, short-term horizontal support.
- A two-day-old falling trend line limits immediate upside, 200-hour SMA adds to the support.
- Technical indicators suggest further recovery.
USD/JPY takes the bids to 109.84 during the early trading hours of Monday. The pair recently bounced off 100-hour SMA, not to mention a four-day-old horizontal line.
In addition to the pair’s sustained bounce off the near-term key supports, upbeat conditions of RSI and MACD also favor the further recovery of USD/JPY prices.
As a result, the quote currently rises to a two-day-old descending resistance line, at 109.95, ahead of challenging the yearly top surrounding 110.30.
Meanwhile, the pair’s declines below 100-hour SMA and immediate horizontal line, around 109.65 and 109.50 respectively, can recall 109.30 to the charts.
However, 200-hour SMA and 61.8% Fibonacci retracement of January 31 to February 06 upside, near 109.20 and 108.95 in that order, will question the bears afterward.
USD/JPY hourly chart
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Additional important levels
|Today last price||109.84|
|Today Daily Change||0.07|
|Today Daily Change %||0.06%|
|Today daily open||109.77|
|Previous Daily High||110.02|
|Previous Daily Low||109.53|
|Previous Weekly High||110.02|
|Previous Weekly Low||108.32|
|Previous Monthly High||110.29|
|Previous Monthly Low||107.65|
|Daily Fibonacci 38.2%||109.72|
|Daily Fibonacci 61.8%||109.84|
|Daily Pivot Point S1||109.53|
|Daily Pivot Point S2||109.29|
|Daily Pivot Point S3||109.04|
|Daily Pivot Point R1||110.02|
|Daily Pivot Point R2||110.27|
|Daily Pivot Point R3||110.51|
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