USD/JPY Technical Analysis: Greenback rebounds from November lows, trading above 108.70 level

USD/JPY is trading at daily highs into the London close this Friday.
The level to beat for bulls is the 108.90/109.03 resistance zone.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading just below the 109.00 handle and the 200-day simple moving average (DMA) on the daily time frame. In the last two months, the market has been gaining considerable ground.

USD/JPY four-hour chart

USD/JPY is rebounding from the November lows while trading above the 100 and 200 SMAs. The market is approaching the 108.90/109.03 resistance zone near the 50 SMA. A break above it can lead to further gains towards the 109.33/109.47 resistance zone.

USD/JPY 30-minute chart

USD/JPY is challenging the 200 SMA on the 30-minute chart. Support can be found near the 108.72 and 108.47 levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	108.84
Today Daily Change	0.41
Today Daily Change %	0.38
Today daily open	108.43

Trends
Daily SMA20	108.74
Daily SMA50	108.17
Daily SMA100	107.69
Daily SMA200	109.01

Levels
Previous Daily High	108.86
Previous Daily Low	108.23
Previous Weekly High	109.49
Previous Weekly Low	108.1
Previous Monthly High	109.29
Previous Monthly Low	106.48
Daily Fibonacci 38.2%	108.48
Daily Fibonacci 61.8%	108.62
Daily Pivot Point S1	108.16
Daily Pivot Point S2	107.88
Daily Pivot Point S3	107.53
Daily Pivot Point R1	108.79
Daily Pivot Point R2	109.14
Daily Pivot Point R3	109.42

Author

Flavio Tosti

Independent Analyst

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