USD/JPY Price Analysis: Retraces toward 136.00 on soft USD

USD/JPY retreats from weekly highs amidst an offered US Dollar.
Upbeat US economic data failed to bolster the US Dollar.
USD/JPY Price Analysis: Bullish above 136.00; otherwise, a retest of 134.00 is on the cards

Christian Borjon Valencia FXStreet

The USD/JPY slides from 136.70s toward the 136.00 area on Friday amidst broad US Dollar (USD) weakness even though data cemented the US economy resilience. At the time of writing, the USD/JPY exchanges hands at 136.02.

USD/JPY Price Action

From a daily chart perspective, the USD/JPY is neutral upward biased, despite dropping from weekly highs toward the 136.10s area. If the USD/JPY bears reclaim the 136.00 figure, that would open the door for further losses. The first support would be the March 1 low of 135.25, followed by strong support below 135.00. Firstly the 100-day EMA at 134.90, followed by the 20-day EMA at 134.39, and then the 134.00 mark.

On the other hand, a bullish continuation would continue if USD/JPY bulls hold prices above 136.00. The first resistance would be the December 20 high at 136.77, followed by the psychological 137.00 mark.

USD/JPY Daily chart

USD/JPY Technical levels

USD/JPY

Overview
Today last price	136.11
Today Daily Change	-0.57
Today Daily Change %	-0.42
Today daily open	136.68

Trends
Daily SMA20	133.86
Daily SMA50	132.03
Daily SMA100	136.76
Daily SMA200	137.27

Levels
Previous Daily High	137.1
Previous Daily Low	136.02
Previous Weekly High	136.52
Previous Weekly Low	133.92
Previous Monthly High	136.92
Previous Monthly Low	128.08
Daily Fibonacci 38.2%	136.69
Daily Fibonacci 61.8%	136.43
Daily Pivot Point S1	136.1
Daily Pivot Point S2	135.52
Daily Pivot Point S3	135.02
Daily Pivot Point R1	137.18
Daily Pivot Point R2	137.68
Daily Pivot Point R3	138.25

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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