USD/JPY Technical Analysis: 50-DMA questions break of two-month-old rising trendline

  • Break of short-term support line, now resistance, drags USD/JPY to eight days’ low.
  • 23.6% Fibonacci retracement adds strength to the support.
  • 200-DMA offers additional resistance beyond the trend line.

USD/JPY drops to 108.50 during early Wednesday. That said, the pair nears multi-day low after breaking a two-month-old rising trend line during the previous day.

Currently, 50-Day Simple Moving Average (DMA) and 23.6% Fibonacci retracement of its rise since August restrict the pair’s immediate declines around 108.50.

Though, bearish signals from 12-bar Moving Average Convergence and Divergence (MACD) push the sellers to watch over 107.80/70 area, comprising 100-DMA and 38.2% Fibonacci retracement, in a case of the pair’s declines below 108.50.

If prices bounce back beyond support-turned-resistance line around 108.75/80, 200-DMA at 108.90 and early-November top surrounding 109.50 can offer intermediate halts to the quote’s run-up towards the monthly high near 109.75 and 110.00 afterward.

USD/JPY daily chart

Trend: Pullback expected

additional important levels

Today last price 108.52
Today Daily Change -11 pips
Today Daily Change % -0.10%
Today daily open 108.63
Daily SMA20 108.93
Daily SMA50 108.48
Daily SMA100 107.78
Daily SMA200 108.9
Previous Daily High 109.21
Previous Daily Low 108.48
Previous Weekly High 109.67
Previous Weekly Low 108.63
Previous Monthly High 109.67
Previous Monthly Low 107.89
Daily Fibonacci 38.2% 108.76
Daily Fibonacci 61.8% 108.93
Daily Pivot Point S1 108.34
Daily Pivot Point S2 108.05
Daily Pivot Point S3 107.62
Daily Pivot Point R1 109.07
Daily Pivot Point R2 109.5
Daily Pivot Point R3 109.79



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

AUD/USD: Bounces off one-week low on Powell-Mnuchin comments, eyes RBA

AUD/USD probes pullback from multi-month high ahead of the key data/events. Fed Chair Powell conveys economic worries, US Treasury Secretary Mnuchin pushes for stimulus. Risks dwindle amid economic fears, uncertainty over the US covid aid package.


Gold: Wobbles near five-month low below $1,800 as Powell, Mnuchin weigh on risks

Gold prices seesaw around $1,77/78 during the early Tuesday morning in Asia. The yellow metal dropped to the lowest since July the previous day before bouncing off $1,764.73. Economic fears, need for stimulus raise bars for the bull’s entry.

Gold news

EUR/USD retreats after its first attempt to break above 1.2000

EUR/USD trades around 1.1940 after failing to break above the psychological threshold. Bulls retain control and would likely challenge the level once again.


WTI holds $45 as OPEC+ postpones output cut decision to Thursday

WTI keeps recovery moves from $44.51 despite multiple failures to regain $46.00. The oil benchmark dropped to the one week low on the previous day amid the US dollar recovery.

Oil News

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info