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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 price109.51
Today Daily Change0.47
Today Daily Change %0.43
Today daily open109.04
 
Trends
Daily SMA20109.11
Daily SMA50108.94
Daily SMA100108.27
Daily SMA200108.62
 
Levels
Previous Daily High109.25
Previous Daily Low107.65
Previous Weekly High109.49
Previous Weekly Low107.84
Previous Monthly High109.8
Previous Monthly Low108.43
Daily Fibonacci 38.2%108.64
Daily Fibonacci 61.8%108.26
Daily Pivot Point S1108.04
Daily Pivot Point S2107.05
Daily Pivot Point S3106.44
Daily Pivot Point R1109.64
Daily Pivot Point R2110.24
Daily Pivot Point R3111.24

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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