USD/JPY Technical Analysis: The 109.20 bull target is hit and exceeded as USD bulls roar back post-NFP

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a deep pullback below the 50, 100 and 200-day simple moving averages (SMAs) on the daily chart.
The US nonfarm payrolls (NFP) in January smashed expectations with 304K vs. 165K forecast.
As forecast, USD/JPY rallied up and the 109.20 target has been achieved.

USD/JPY 4-hour chart

USD/JPY is testing the 200 SMA.

USD/JPY 30-minute chart

USD/JPY staged an incredible recovery blasting through all SMAs to the upside.
The level to beat for bulls is 109.50, if broken, then 109.90 and 110.10 come into play.
On the way down, support is seen at 109.20, 108.90 and the 108.70 level.

Additional key levels

USD/JPY

Overview:
    Today Last Price: 109.44
    Today Daily change: 52 pips
    Today Daily change %: 0.48%
    Today Daily Open: 108.92
Trends:
    Daily SMA20: 109.01
    Daily SMA50: 110.85
    Daily SMA100: 111.89
    Daily SMA200: 111.26
Levels:
    Previous Daily High: 109.08
    Previous Daily Low: 108.5
    Previous Weekly High: 110
    Previous Weekly Low: 109.14
    Previous Monthly High: 110
    Previous Monthly Low: 104.75
    Daily Fibonacci 38.2%: 108.72
    Daily Fibonacci 61.8%: 108.86
    Daily Pivot Point S1: 108.58
    Daily Pivot Point S2: 108.24
    Daily Pivot Point S3: 107.99
    Daily Pivot Point R1: 109.17
    Daily Pivot Point R2: 109.42
    Daily Pivot Point R3: 109.76

Author

Flavio Tosti

Independent Analyst

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