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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD stays below 1.3350 on poor UK PMIs

GBP/USD hits fresh session lows of 1.3335 following an unexpected drop in the UK's Preliminary Manufacturing and Service PMI reports. However, the downside appears capped amid growing Brexit optimism. 


EUR/USD keeps range around 1.1130 on downbeat PMIs

EUR/USD trims gains to trade near 1.1130 region after the sentiment around the euro was dented by the disappointing German and Eurozone Preliminary Manufacturing PMIs. Trade concerns also keep the gains limited. 


The phantom of fear pierces crypto market foundations

Negative technical indicators are extremely volatile and are approaching a technical rebound. Ethereum has fundamentals in play versus Bitcoin which could be lethal. XRP is not immune to downfalls and adds to the dangerous game of critical supports.

Read more

Gold consolidates in a range, flat-lined around $1475 level

Gold extended its sideways consolidative price action through the early European session on Monday and remained confined in a narrow trading band near the $1475 region.

Gold News

USD/JPY trades below 109.50 ahead of US PMI data

The USD/JPY pair edged higher on the first day of a new trading week, albeit lacked any strong follow-through and remained well within the previous session's trading range.