USD/JPY Price Analysis: Rallies back above 142.00 after clearing the 100-DMA

USD/JPY recovered the 142.00 psychological level as buyers piled around the 140.00 figure.
If the USD/JPY clears 143.00, a rally to the 50-day EMA is on the cards.
USD/JPY Price Analysis: Upward biased, though buyers lack momentum, as shown by the RSI.

Christian Borjon Valencia FXStreet

The USD/JPY bounces from below the 100-day Exponential Moving Average (EMA) and advances sharply above the 142.00 psychological level for the first time after dropping to three-month lows of 137.65 in the last week. Factors like sentiment, a buoyant US Dollar (USD), and reclaiming the 100-day EMA bolstered the USD/JPY. Hence, the USD/JPY is trading at 142.03, above its opening price by 1.21%, after hitting a daily low of 140.15.

USD/JPY Price Analysis: Technical outlook

The USD/JPY daily chart portrays the pair as neutral-to-upward biased once buyers reclaimed the 100-day EMA. Of note, on its way north, the Relative Strength Index (RSI) aims upwards, accelerating towards the 50-midline, which, once crossed, suggests that buyers are in charge. USD/JPY key resistance levels in the daily chart are November 11, high at 142.48, followed by the psychological 143.00 figure, ahead of the 50-day EMA at 145.07.

On the other hand, the USD/JPY first support would be the 142.00 mark. A breach of the latter will expose the 100-day EMA at 141.01, followed by September 22 swing low at 140.34, ahead for the MTD low of 137.65.

USD/JPY Key Technical Levels

USD/JPY

Overview
Today last price	142.12
Today Daily Change	1.72
Today Daily Change %	1.23
Today daily open	140.4

Trends
Daily SMA20	144.71
Daily SMA50	145.09
Daily SMA100	140.96
Daily SMA200	133.34

Levels
Previous Daily High	140.5
Previous Daily Low	139.64
Previous Weekly High	140.8
Previous Weekly Low	137.67
Previous Monthly High	151.94
Previous Monthly Low	143.53
Daily Fibonacci 38.2%	140.17
Daily Fibonacci 61.8%	139.97
Daily Pivot Point S1	139.86
Daily Pivot Point S2	139.31
Daily Pivot Point S3	138.99
Daily Pivot Point R1	140.72
Daily Pivot Point R2	141.04
Daily Pivot Point R3	141.58

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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