- 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
additional important levels
|Today last price||108.49|
|Today Daily Change||8 pips|
|Today Daily Change %||0.07%|
|Today daily open||108.41|
|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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