USD/JPY technical analysis: Firm above two-week-old rising trendline, 4H 50MA


  • USD/JPY takes the bids towards monthly high.
  • Highs marked during September month and October 01 add strength to the support confluence.

With its U-turn from near-term key support confluence, USD/JPY flashes 108.65 as a quote during early Tuesday.

Prices are likely to challenge monthly high surrounding 109.00 in order to challenge August month's top near 109.30.

On the downside, 50-hour simple moving average on the four-hour chart (4H 50MA), two-week-old rising trend-line, and highs marked during September month and October 01  around 108.50/45 become the key to watch.

Should there be increased selling pressure below 108.45, 108.00 and 107.50 could entertain bears ahead of challenging them with 61.8% Fibonacci Retracement of September-October declines, at 106.95.

It’s worth pointing out that the pair’s extended weakness past-106.95 could eye 106.50 and September month low close to 105.70.

USD/JPY 4-hour chart

Trend: bullish

additional important levels

Overview
Today last price 108.66
Today Daily Change 5 pips
Today Daily Change % 0.05%
Today daily open 108.61
 
Trends
Daily SMA20 107.86
Daily SMA50 107.27
Daily SMA100 107.56
Daily SMA200 109.08
 
Levels
Previous Daily High 108.66
Previous Daily Low 108.29
Previous Weekly High 108.94
Previous Weekly Low 108.03
Previous Monthly High 108.48
Previous Monthly Low 105.74
Daily Fibonacci 38.2% 108.52
Daily Fibonacci 61.8% 108.43
Daily Pivot Point S1 108.38
Daily Pivot Point S2 108.15
Daily Pivot Point S3 108.01
Daily Pivot Point R1 108.76
Daily Pivot Point R2 108.9
Daily Pivot Point R3 109.13

 

 

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