USD/JPY Price Analysis: Dollar registers biggest weekly advance vs. yen since November 2016

  • USD/JPY is bouncing sharply from the 2020 lows as US stocks are recovering.
  • USD/JPY gained a massive 3.7% on an intraday basis.
  • UoM Consumer Sentiment at 95.9, shrugs off coronavirus concerns.

USD/JPY daily chart

USD/JPY is reversing up from three-year lows while trading below the simple moving averages (SMAs) as the US equity markets are bouncing after one of the worst sessions since 1987 this Thursday. The Coronavirus narrative is leading to hysteria and panic worldwide in an unprecedented alarmist message from mass media for a case of pandemic flu. Additionally, this Friday, the University of Michigan's initial gauge of consumer confidence came in at 95.9 above the 95 level. 

USD/JPY four-hour chart

USD/JPY is challenging the 108.60/109.00 resistance zone and the 200 SMA on the four-hour chart. The spot is spiking to the upside and a break beyond the above-mentioned level could expose the 112.00 level near the last swing high. Support can be seen near the 107.60, 107.00 and 106.00 levels.
Resistance: 108.60, 109.00, 112.00
Support: 107.57, 107.00, 106.00

Additional key levels


Today last price 107.96
Today Daily Change 3.32
Today Daily Change % 3.17
Today daily open 104.64
Daily SMA20 108.27
Daily SMA50 108.97
Daily SMA100 108.97
Daily SMA200 108.27
Previous Daily High 106.1
Previous Daily Low 103.08
Previous Weekly High 108.58
Previous Weekly Low 105
Previous Monthly High 112.23
Previous Monthly Low 107.51
Daily Fibonacci 38.2% 104.95
Daily Fibonacci 61.8% 104.24
Daily Pivot Point S1 103.11
Daily Pivot Point S2 101.59
Daily Pivot Point S3 100.09
Daily Pivot Point R1 106.13
Daily Pivot Point R2 107.63
Daily Pivot Point R3 109.16



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