USD/JPY technical analysis: Break of 100-DMA, 3.5-month-old trend-line favors further upside


  • 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

Trend: bullish

additional important levels

Overview
Today last price 108.15
Today Daily Change 5 pips
Today Daily Change % 0.05%
Today daily open 108.1
 
Trends
Daily SMA20 106.58
Daily SMA50 107.16
Daily SMA100 108.15
Daily SMA200 109.45
Levels
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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