USD/JPY Technical Analysis: Bulls testing 108.50 resistance as DXY surges across the board

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  |  11/01/2019 15:17

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 following the flash crash last week.
  • Earlier this Friday, the US CPI (Consumer Producer Index) matched analysts forecasts at 2.2% for December y/y. 

USD/JPY 4-hour chart

  • USD/JPY bulls are challenging the 50 SMA as the Greenback is having a boost across the board.

USD/JPY 30-minute chart

  • Bulls are gaining ground as they reclaimed the 50 and 100 SMA and are now challenging the 108.50 resistance. 
  • A break of the level would open the doors to further gains and a potential run to 109.00 resistance.

Additional key levels

USD/JPY

Overview:
    Today Last Price: 108.43
    Today Daily change: -5.0 pips
    Today Daily change %: -0.0461%
    Today Daily Open: 108.48
Trends:
    Previous Daily SMA20: 110.27
    Previous Daily SMA50: 112.09
    Previous Daily SMA100: 112.2
    Previous Daily SMA200: 111.13
Levels:
    Previous Daily High: 108.5
    Previous Daily Low: 107.77
    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%: 108.22
    Previous Daily Fibonacci 61.8%: 108.05
    Previous Daily Pivot Point S1: 108
    Previous Daily Pivot Point S2: 107.52
    Previous Daily Pivot Point S3: 107.28
    Previous Daily Pivot Point R1: 108.73
    Previous Daily Pivot Point R2: 108.97
    Previous Daily Pivot Point R3: 109.45

 

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