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.

Flavio Tosti Independent Analyst

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.

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

Author

Flavio Tosti

Independent Analyst

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