USD/JPY Technical Analysis: Seeing fresh bidding, climbing over key Fibo level

USD/JPY is pinning into Friday highs in early trading, clipping 108.40 as the Greenback recovers against the safe haven Yen.

Joshua Gibson FXStreet

USD/JPY, 5-Minute

Despite Friday's continued recovery from Thursday's risk-off plunge, the Dollar-Yen pairing remains firmly bearish in the near-term, holding below key levels with declining resistance from the 200-period moving average near 109.20.

USD/JPY, 30-Minute

In the medium-term, USD/JPY has lifted past the 38.2% Fibo level, and now sits ready for a run into the 61.8% Fibo level at 110.26, a confluence level with the pair's last swing low.

USD/JPY, 4-Hour

USD/JPY

Overview:
    Today Last Price: 108.39
    Today Daily change: 87 pips
    Today Daily change %: 0.809%
    Today Daily Open: 107.52
Trends:
    Previous Daily SMA20: 111.45
    Previous Daily SMA50: 112.5
    Previous Daily SMA100: 112.3
    Previous Daily SMA200: 111.09
Levels:
    Previous Daily High: 109.12
    Previous Daily Low: 104.75
    Previous Weekly High: 111.41
    Previous Weekly Low: 110
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Previous Daily Fibonacci 38.2%: 106.42
    Previous Daily Fibonacci 61.8%: 107.45
    Previous Daily Pivot Point S1: 105.14
    Previous Daily Pivot Point S2: 102.75
    Previous Daily Pivot Point S3: 100.76
    Previous Daily Pivot Point R1: 109.52
    Previous Daily Pivot Point R2: 111.51
    Previous Daily Pivot Point R3: 113.89

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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