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
Today Last Price: 108.28
Today Daily change: -49 pips
Today Daily change %: -0.450%
Today Daily Open: 108.77
Previous Daily SMA20: 110.78
Previous Daily SMA50: 112.27
Previous Daily SMA100: 112.25
Previous Daily SMA200: 111.12
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