USD/JPY Technical Analysis: Greenback is challenging the 109.60 level

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is having a deep pullback below the 50, 100 and 200-period simple moving averages (SMAs).

USD/JPY 4-hour chart

USD/JPY is trading above the 50 and 100 SMA as bulls are challenging the 109.60 level.

USD/JPY 30-minute chart

As long as 109.80 caps prices USD/JPY is exposed to retrace to the 109.40 level and the 109.00 level.
Martin Luther King Day, will likely see limited movements in the forex market.

Additional key levels

USD/JPY

Overview:
    Today Last Price: 109.65
    Today Daily change: -0.10 pips
    Today Daily change %: -0.09%
    Today Daily Open: 109.75
Trends:
    Daily SMA20: 109.25
    Daily SMA50: 111.54
    Daily SMA100: 112.06
    Daily SMA200: 111.19
Levels:
    Previous Daily High: 109.9
    Previous Daily Low: 109.06
    Previous Weekly High: 109.9
    Previous Weekly Low: 107.99
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Daily Fibonacci 38.2%: 109.57
    Daily Fibonacci 61.8%: 109.38
    Daily Pivot Point S1: 109.24
    Daily Pivot Point S2: 108.73
    Daily Pivot Point S3: 108.4
    Daily Pivot Point R1: 110.08
    Daily Pivot Point R2: 110.41
    Daily Pivot Point R3: 110.92

Author

Flavio Tosti

Independent Analyst

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.