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Jan 10, 2019
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