USD/JPY Price Analysis: The price has bounced of an old congestion area at 105.80

  • USD/JPY has fallen 0.14% on Wednesday despite a nice move higher last week.
  • There could be some sideways movement to come now as the price is stuck between two levels.

USD/JPY 4-hour chart

USD/JPY has moved back into the middle of a very congested area and met some offers. The pair is normally correlated to the risk environment and at the moment stocks are very mixed. This is due to the fact that there is an upcoming US election and the White House is struggling to put together a stimulus bill. This Friday, things could get pretty volatile as the market will get the latest non-farm payroll figures and the pair is likely to stay pretty static until then. 

The chart shows how strong the black line at 105.80 is. This is the key area within the consolidation as the price reacted around the zone at least nine times on the chart alone. The level now in focus is the support level at 105.20 if this level is broken then there could be a more sustained move to the downside. 

The indicators will now be back in their familiar mid-zones as the market had been in a sideways consolidation for some time before the move lower towards 104.00. If anything they are slightly bearish as the MACD histogram is red and the Relative Strength Index is moving towards 50 again. Overall, it seems we need another shake out and much will depend on the data towards the end of the week. 

USD/JPY technical analysis

Additional levels


Today last price 105.47
Today Daily Change -0.19
Today Daily Change % -0.18
Today daily open 105.66
Daily SMA20 105.6
Daily SMA50 105.82
Daily SMA100 106.65
Daily SMA200 107.6
Previous Daily High 105.73
Previous Daily Low 105.34
Previous Weekly High 105.7
Previous Weekly Low 104
Previous Monthly High 107.05
Previous Monthly Low 105.1
Daily Fibonacci 38.2% 105.58
Daily Fibonacci 61.8% 105.49
Daily Pivot Point S1 105.42
Daily Pivot Point S2 105.19
Daily Pivot Point S3 105.03
Daily Pivot Point R1 105.81
Daily Pivot Point R2 105.97
Daily Pivot Point R3 106.21



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.


GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.


XAU/USD ticks up to $1,910 and turns positive on the day

Gold futures have found support right below the $1,900 area earlier today before inching up to $1,910, turning positive on daily charts. The precious metal lost ground, with the US dollar building up during the European session on Tuesday, to appreciate during the North American session with market sentiment improving moderately.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News