USD/JPY Technical Analysis: Set-up favours a move towards 55-DMA/61.8% Fibo. confluence hurdle

Haresh Menghani FXStreet

• The pair finally broke out of its multi-day consolidative trading range, held over the past one week or so, and jumped to fresh YTD tops during the mid-European session on Monday.

• A sustained move beyond the key 110.00 psychological mark was seen as a key trigger for intraday bullish traders and the latest leg of a sudden pickup over the past couple of hours.

• Technical indicators on the 4-hourly chart maintained their bullish bias and have also started gaining positive traction on the daily chart, supporting an extension of the positive momentum.

• The set-up now favours a move towards challenging an important confluence resistance - comprising of 55-day SMA and 61.8% Fibonacci retracement level of the 114.21-104.69 downfall.

• Despite the constructive outlook, slightly overbought conditions on the 1-hourly chart might turn out to be the only factor keeping a lid on any further up-move amid the prevalent risk-off mood.

USD/JPY daily chart

USD/JPY

Overview:
    Today Last Price: 110.19
    Today Daily change %: 0.36%
    Today Daily Open: 109.8
Trends:
    Daily SMA20: 109.42
    Daily SMA50: 110.41
    Daily SMA100: 111.74
    Daily SMA200: 111.27
Levels:
    Previous Daily High: 109.9
    Previous Daily Low: 109.65
    Previous Weekly High: 110.16
    Previous Weekly Low: 109.43
    Previous Monthly High: 110
    Previous Monthly Low: 104.75
    Daily Fibonacci 38.2%: 109.74
    Daily Fibonacci 61.8%: 109.8
    Daily Pivot Point S1: 109.66
    Daily Pivot Point S2: 109.53
    Daily Pivot Point S3: 109.41
    Daily Pivot Point R1: 109.92
    Daily Pivot Point R2: 110.03
    Daily Pivot Point R3: 110.17

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD recovers further from one-month low set on Friday, eyes mid-1.1800s on weaker USD

The EUR/USD pair is seen building on Friday's late recovery from the 1.1750-1.1740 region, or a nearly one-month trough, and gaining some follow-through positive traction at the start of a new week. The momentum lifts spot prices to the 1.1835 area during the Asian session and is sponsored by a broadly weaker US Dollar.

GBP/USD gathers strength above 1.3500 amid tariff confusion

The GBP/USD pair gains traction to around 1.3520 during the early Asian session on Monday. The US Dollar faces some selling pressure against the Cable as tariff uncertainty lingers. Traders will take more cues from the US Producer Price Index report for January, which will be published later on Friday.

Gold eyes a daily closing above key 61.8% Fibo resistance

Gold is adding over 1% early Monday, after having gained 2% on Friday. The bright metal scales key technical hurdles, as buyers stay strong amid renewed tariffs and economic uncertainty alongside looming US-Iran geopolitical tensions.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.

Liberation day take two, the tariff machine just changed gears

Let me caveat this from the outset. What we are watching is first-order mechanics, not the grand macro endgame. This is the market’s immediate reflex to a 15% Trump tariff levy dressed up as judicial drama. The Supreme Court blocked Trump tarrif hammer. The White House came back with a scalpel.