- USD/JPY is on the recovery mode, trades around intra-day high.
- 61.8% Fibonacci Retracement adds to the support while 110.00 keeps troubling the Bulls.
USD/JPY takes the bids to an intra-day high of 109.15 by the press time of early Tuesday. The quote recently bounced off 100-bar Simple Moving Average (SMA).
Considering sharp declines registered during the previous day, coupled with a pullback from the key SMA, prices are likely to extend the recovery towards 23.6% Fibonacci retracement of late-November upside, near 109.40. Though, 110.00 could keep being a tough nut to crack for buyers afterward.
In a case of the Bulls’ capacity to conquer 110.00 round-figure, May 21 high around 110.70 will be in the spotlight.
Alternatively, the 100-bar SMA level of 108.93 and 61.8% Fibonacci retracement level of 108.80 restrict pair’s immediate declines whereas multiple lows surrounding 108.40 could keep sellers entertained then after.
USD/JPY 4-hour chart
Trend: Recovery expected
additional important levels
|Today last price||109.15|
|Today Daily Change||20 pips|
|Today Daily Change %||0.18%|
|Today daily open||108.95|
|Previous Daily High||109.73|
|Previous Daily Low||108.92|
|Previous Weekly High||109.67|
|Previous Weekly Low||108.63|
|Previous Monthly High||109.67|
|Previous Monthly Low||107.89|
|Daily Fibonacci 38.2%||109.23|
|Daily Fibonacci 61.8%||109.42|
|Daily Pivot Point S1||108.68|
|Daily Pivot Point S2||108.4|
|Daily Pivot Point S3||107.87|
|Daily Pivot Point R1||109.48|
|Daily Pivot Point R2||110.01|
|Daily Pivot Point R3||110.28|
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