USD/JPY Price Analysis: Greenback climbs to 109.50 nearing multi-month highs


  • USD/JPY is bouncing up strongly trading at its highest since the start of January.  
  • Resistances are seen at 109.50 and 109.90 levels.   
 

USD/JPY daily chart

 
USD/JPY is bouncing strongly from the 108.00 handle as the spot is regaining momentum above the main simple moving averages (SMAs). 
 

USD/JPY four-hour chart

 
The spot pushed its way higher to the 109.50 resistance. However, this can be a tough nut to crack and the market can enter a consolidation now, potentially in the 109.00/109.50 range. In the event the bulls extend the run the 109.90 and 110.15 level can provide resistance. On the flip side, the bearish case would involve a break of 109.00 support and a drop towards the 108.45/28 price zone, according to the Technical Confluences Indicator
    
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Additional key levels

USD/JPY

Overview
Today last price 109.51
Today Daily Change 0.47
Today Daily Change % 0.43
Today daily open 109.04
 
Trends
Daily SMA20 109.11
Daily SMA50 108.94
Daily SMA100 108.27
Daily SMA200 108.62
 
Levels
Previous Daily High 109.25
Previous Daily Low 107.65
Previous Weekly High 109.49
Previous Weekly Low 107.84
Previous Monthly High 109.8
Previous Monthly Low 108.43
Daily Fibonacci 38.2% 108.64
Daily Fibonacci 61.8% 108.26
Daily Pivot Point S1 108.04
Daily Pivot Point S2 107.05
Daily Pivot Point S3 106.44
Daily Pivot Point R1 109.64
Daily Pivot Point R2 110.24
Daily Pivot Point R3 111.24

 

 

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