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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

 

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