USD/JPY Technical Analysis: 100-bar SMA keeps buyers hopeful


  • 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

Overview
Today last price 109.15
Today Daily Change 20 pips
Today Daily Change % 0.18%
Today daily open 108.95
 
Trends
Daily SMA20 108.96
Daily SMA50 108.45
Daily SMA100 107.77
Daily SMA200 108.91
 
Levels
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

 

 

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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD challenges weekly highs is a sentiment-driven advance

The financial markets continue to focus on sentiment instead than on data, with equities leading the way. Upbeat earnings reports overshadow coronavirus-related concerns. EUR/USD nearing June monthly high at 1.1422.

EUR/USD News

GBP/USD trims intraday losses, trades flat around 1.2550

The US session is seeing the dollar gave up early gains, even against the weakened Pound. GBP/USD hovers around 1.2550, despite disappointing UK GDP.

GBP/USD News

Gold advances to fresh daily highs near $1,810

The XAU/USD pair closed the first day of the week with small gains above $1,800. After spending the European session moving sideways in a tight channel, the pair turned north on broad USD weakness during the American session. 

Gold News

Bitcoin low volatility indicates a significant move to $8,000 or $10,000 is nearby

Bitcoin price is currently at $9,229 after a brief dip to $9,104. It is currently below the daily 12-EMA and the 26-EMA which have been unable to cross positively due to the lack of bullish continuation. 

Read more

WTI rebounds towards $40 mark ahead of API data

WTI (August futures on Nymex) is looking to regain the 40-level following a quick rebound from the daily lows reached just above the 39 mark.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures