- 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|
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.