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Jan 9, 2019
USD/JPY Technical Analysis: Greenback retreats to the 108.00 level ahead of the FOMC minutes
USD/JPY daily chart
- USD/JPY is having a deep pullback below the 50, 100 and 200-period simple moving averages (SMAs).
- The FOMC minutes scheduled at 19:00 GMT will likely provide high volatility in the forex market.
USD/JPY 4-hour chart
- USD/JPY rejected the 109.00 figure along with the 50 SMA.
USD/JPY 30-minute chart
- USD/JPY found some support at the 108.00 figure and bears need a break below that level for a continuation down.
- On the flip side, bulls are still alive but they must break above the critical 109.00 resistance in order to open the doors to 110.70 resistance.
Additional key levels
USD/JPY
Overview:
Today Last Price: 108.28
Today Daily change: -49 pips
Today Daily change %: -0.450%
Today Daily Open: 108.77
Trends:
Previous Daily SMA20: 110.78
Previous Daily SMA50: 112.27
Previous Daily SMA100: 112.25
Previous Daily SMA200: 111.12
Levels:
Previous Daily High: 109.09
Previous Daily Low: 108.44
Previous Weekly High: 110.48
Previous Weekly Low: 104.75
Previous Monthly High: 113.83
Previous Monthly Low: 109.55
Previous Daily Fibonacci 38.2%: 108.84
Previous Daily Fibonacci 61.8%: 108.69
Previous Daily Pivot Point S1: 108.44
Previous Daily Pivot Point S2: 108.11
Previous Daily Pivot Point S3: 107.79
Previous Daily Pivot Point R1: 109.09
Previous Daily Pivot Point R2: 109.42
Previous Daily Pivot Point R3: 109.74