USD/JPY Price Analysis: Rests on 100-HMA above 107.00 amid quiet markets

USD/JPY consolidates pullback form the three-day top, stays above 107.00.
The one-week-old ascending trend line, 200-HMA adds to the supports.
The monthly top can lure buyers during fresh upside.

Anil Panchal FXStreet

USD/JPY trades near 107.24 as it enters Friday’s European session. The pair recently pulled back from Tuesday’s top but stays above 100-HMA off-late.

Considering the downward sloping RSI, sellers await a clear break of 107.20, comprising 100-HMA, to aim for the weekly support line, at 106.90.

Though, pair’s further declines depend upon how well the bears can dominate below 200-HMA level of 106.80.

Meanwhile, an upside clearance of the recent high, 107.43, can propel the pair towards the monthly peak of 107.77. However, multiple resistances marked during the mid-April around 108.05/10 can keep the bulls chained afterward.

USD/JPY hourly chart

Trend: Sideways

Additional important levels

Overview
Today last price	107.24
Today Daily Change	-0.03
Today Daily Change %	-0.03%
Today daily open	107.27

Trends
Daily SMA20	107.11
Daily SMA50	107.61
Daily SMA100	108.51
Daily SMA200	108.27

Levels
Previous Daily High	107.37
Previous Daily Low	106.78
Previous Weekly High	107.07
Previous Weekly Low	105.99
Previous Monthly High	109.38
Previous Monthly Low	106.36
Daily Fibonacci 38.2%	107.14
Daily Fibonacci 61.8%	107
Daily Pivot Point S1	106.91
Daily Pivot Point S2	106.55
Daily Pivot Point S3	106.32
Daily Pivot Point R1	107.5
Daily Pivot Point R2	107.73
Daily Pivot Point R3	108.09

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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