USD/JPY price analysis: Greenback retraces NFP-inspired spike against yen

USD/JPY gets a boost from the stellar Nonfarm Payrolls (NFP).
The level to beat for bulls is the 109.03 resistance.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading below the 109.00 figure and the 50/200-day simple moving average (DMA) on the daily time frame as the market is in a tight range for the third consecutive day. Earlier, the Nonfarm Payrolls (NFP) smashed market expectations with 266k vs. 180k forecast.

USD/JPY four-hour chart

The market is trading within ranges as the bulls are trying to regain the 109.00 handle above the 200 SMA. However, a daily close below the 108.58 support can see the market decline towards the 108.24 level.

USD/JPY 30-minute chart

Next week, buyers might try to break the 109.03 resistance. If they do, resistances on the way up are seen near the 109.30 and 109.48 levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.7
Today Daily Change	-0.06
Today Daily Change %	-0.06
Today daily open	108.76

Trends
Daily SMA20	108.9
Daily SMA50	108.52
Daily SMA100	107.8
Daily SMA200	108.88

Levels
Previous Daily High	109
Previous Daily Low	108.65
Previous Weekly High	109.67
Previous Weekly Low	108.63
Previous Monthly High	109.67
Previous Monthly Low	107.89
Daily Fibonacci 38.2%	108.79
Daily Fibonacci 61.8%	108.87
Daily Pivot Point S1	108.61
Daily Pivot Point S2	108.46
Daily Pivot Point S3	108.26
Daily Pivot Point R1	108.96
Daily Pivot Point R2	109.15
Daily Pivot Point R3	109.31

Author

Flavio Tosti

Independent Analyst

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