- USD/JPY takes the bids towards 50% Fibonacci retracement level.
- Overbought RSI conditions could raise barriers during further advances.
USD/JPY surges to 108.15, backed by successful break of 100-day simple moving average (DMA) and a falling trend-line since late-April, amid initial Friday trading.
The pair now aims for 50% Fibonacci retracement of April-August declines, at 108.45. However, overbought conditions of 14-day relative strength index (RSI) could question pair’s extra upside.
In a case buyers ignore overbought RSI, 109.32/43 area including August high, 61.8% Fibonacci retracement and 200-DMA becomes the key to watch.
Meanwhile, a downside break below previous resistance, at 108.00, can trigger fresh declines to 38.2% Fibonacci retracement level of 107.50 whereas 21-DMA at 106.65 could keep additional declines limited.
USD/JPY daily chart
additional important levels
|Today last price||108.15|
|Today Daily Change||5 pips|
|Today Daily Change %||0.05%|
|Today daily open||108.1|
|Previous Daily High||108.19|
|Previous Daily Low||107.52|
|Previous Weekly High||107.23|
|Previous Weekly Low||105.74|
|Previous Monthly High||109.32|
|Previous Monthly Low||104.45|
|Daily Fibonacci 38.2%||107.93|
|Daily Fibonacci 61.8%||107.78|
|Daily Pivot Point S1||107.68|
|Daily Pivot Point S2||107.27|
|Daily Pivot Point S3||107.01|
|Daily Pivot Point R1||108.36|
|Daily Pivot Point R2||108.61|
|Daily Pivot Point R3||109.03|
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