USD/JPY Price Analysis: Greenback trades near session’s highs, bulls eying the 109.00 handle

USD/JPY is reversing the decline which started in the first days of January.
The level to beat for bulls is the 109.00 handle.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is bouncing from the 108.00 handle and the 100-day simple moving average (SMA). The market is now challenging the 200-day simple moving average (SMA).

USD/JPY four-hour chart

The market is gaining ground above the 108.45 support and the 50 SMA on the four-hour chart. Bulls are gaining momentum and probably want to reach the 109.00 handle, which is likely going to act as resistance. If the market can surpass that level, the next level to watch is likely the 109.52 level on the way up. The spot is expected to meet support near the 108.45/28 price zone, 107.83 and 107.61/49 support zone, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.74
Today Daily Change	0.18
Today Daily Change %	0.17
Today daily open	108.56

Trends
Daily SMA20	109.08
Daily SMA50	108.93
Daily SMA100	108.25
Daily SMA200	108.64

Levels
Previous Daily High	108.63
Previous Daily Low	108.26
Previous Weekly High	109.49
Previous Weekly Low	107.84
Previous Monthly High	109.8
Previous Monthly Low	108.43
Daily Fibonacci 38.2%	108.49
Daily Fibonacci 61.8%	108.4
Daily Pivot Point S1	108.33
Daily Pivot Point S2	108.11
Daily Pivot Point S3	107.96
Daily Pivot Point R1	108.7
Daily Pivot Point R2	108.85
Daily Pivot Point R3	109.07

Author

Flavio Tosti

Independent Analyst

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