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USD/JPY Technical Analysis: Greenback bulls unwilling to give up on 108.00 support ahead of Fed's Powell speech

USD/JPY Daily chart

  • USD/JPY is in a deep pullback below the 50, 100 and 200-period simple moving averages (SMAs).
  • USD/JPY is trading more than 300-pips up after the flash crash last week.
  • Fed’s Powell is set to speak at 17.00 GMT and it can have an impact on the currency markets.

EUR/USD 4-hour chart

  • In the medium-term USD/JPY might be vulnerable to bearish incursions as it is trading below its main SMAs.

USD/JPY 30-minute chart

  • USD/JPY found some support at the 107.70 level but is still trading below its main SMAs. 
  • If bulls want to reclaim the market they would need to overcome the 108.50 resistance which would open the doors to 109.00 and 109.70 resistances
  • On the flip side, a bearish break of 107.70 can lead to a drop to 107.30 support.

Additional key levels

USD/JPY

Overview:
    Today Last Price: 108.11
    Today Daily change: 10 pips
    Today Daily change %: 0.0926%
    Today Daily Open: 108.01
Trends:
    Previous Daily SMA20: 110.52
    Previous Daily SMA50: 112.18
    Previous Daily SMA100: 112.23
    Previous Daily SMA200: 111.13
Levels:
    Previous Daily High: 109
    Previous Daily Low: 107.97
    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%: 108.37
    Previous Daily Fibonacci 61.8%: 108.61
    Previous Daily Pivot Point S1: 107.65
    Previous Daily Pivot Point S2: 107.29
    Previous Daily Pivot Point S3: 106.62
    Previous Daily Pivot Point R1: 108.68
    Previous Daily Pivot Point R2: 109.36
    Previous Daily Pivot Point R3: 109.72

 

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