USD/JPY technical analysis: Flirting with the 200-hour MA support

USD/JPY is teasing a downside break of the recent trading range.
A break below the lower end of the trading range – 200-hour MA – would expose 107.45.

Omkar Godbole FXStreet Contributor

USD/JPY is currently trading around the 200-hour moving average (MA) support of 107.93.

The downside has been restricted around the 200-hour MA since Sept. 18, meanwhile, the upside has been capped above 108.00.

Acceptance below the 200-hour MA support would imply a resumption of the sell-off from recent highs near 108.50 and could yield a drop to the hourly chart support of 107.45.

A range breakdown could happen if equities turn red, putting a bid under the safe-haven JPY amid heightened tensions in the middle east.

The outlook, however, would turn bullish if the range is breached on the higher side. That would expose recent highs near 108.50.

Hourly chart

Trend: Bearish below 200-hour MA

Technical levels

USD/JPY

Overview
Today last price	107.92
Today Daily Change	-0.10
Today Daily Change %	-0.09
Today daily open	108.02

Trends
Daily SMA20	107
Daily SMA50	107.11
Daily SMA100	107.99
Daily SMA200	109.32

Levels
Previous Daily High	108.48
Previous Daily Low	107.78
Previous Weekly High	108.26
Previous Weekly Low	106.76
Previous Monthly High	109.32
Previous Monthly Low	104.45
Daily Fibonacci 38.2%	108.05
Daily Fibonacci 61.8%	108.21
Daily Pivot Point S1	107.71
Daily Pivot Point S2	107.4
Daily Pivot Point S3	107.02
Daily Pivot Point R1	108.4
Daily Pivot Point R2	108.78
Daily Pivot Point R3	109.09

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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