USD/JPY technical analysis: Clings to 50% Fibo. below 200-day SMA


  • USD/JPY seesaws around four day low.
  • 107.56/50, two-month-old rising trend line limits near-term declines.

Although 200-day SMA becomes the key upside for USD/JPY, the quote refrains from further declines while taking rounds to 108.50 during early Monday.

200-day Simple Moving Average (SMA) level of 109.10 and 61.8% Fibonacci retracement of April-August downpour at 109.40 act as important resistances that hold the gate for pair’s rise to 110.00.

Pair’s downside has strong support of 100-day SMA and 38.2% Fibonacci retracement confluence around 107.56/50, a break of which could drag the quote two-month-old rising support line, at 107.30.

Technical indicators, namely 14-bar Relative Strength Index (RSI) and 12-bar Moving Average Convergence and Divergence (MACD) are mostly in favor of the pair’s further advances. Though, a lower high formation and important SMA question buyers.

USD/JPY daily chart

Trend: sideways

additional important levels

Overview
Today last price 108.49
Today Daily Change 8 pips
Today Daily Change % 0.07%
Today daily open 108.41
 
Trends
Daily SMA20 107.81
Daily SMA50 107.2
Daily SMA100 107.56
Daily SMA200 109.07
 
Levels
Previous Daily High 108.74
Previous Daily Low 108.33
Previous Weekly High 108.94
Previous Weekly Low 108.03
Previous Monthly High 108.48
Previous Monthly Low 105.74
Daily Fibonacci 38.2% 108.48
Daily Fibonacci 61.8% 108.58
Daily Pivot Point S1 108.25
Daily Pivot Point S2 108.09
Daily Pivot Point S3 107.84
Daily Pivot Point R1 108.65
Daily Pivot Point R2 108.9
Daily Pivot Point R3 109.06

 

 

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