“¢ The pair extended its sideways consolidative price action and remained capped below 50-hour SMA, or the 109.00 handle ahead of the keenly watched US monthly jobs report (NFP).
“¢ The mentioned hurdle coincides with 38.2% Fibonacci retracement level of the 109.74-108.50 post-FOMC sharp fall and should now act as a key pivotal point for short-term traders.
“¢ Meanwhile, neutral technical indicators on the 1-hourly chart have failed to support a firm intraday direction and are still far from recovering from the bearish territory on 4-hourly/daily charts.
“¢ Hence, it would be prudent to wait for a sustained move beyond the mentioned confluence hurdle before positioning for any further up-move towards reclaiming the key 110.00 psychological mark.
USD/JPY 1-hourly chart
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USD/JPY
Overview:
Today Last Price: 108.9
Today Daily change %: -0.02%
Today Daily Open: 108.92
Trends:
Daily SMA20: 109.01
Daily SMA50: 110.85
Daily SMA100: 111.89
Daily SMA200: 111.26
Levels:
Previous Daily High: 109.08
Previous Daily Low: 108.5
Previous Weekly High: 110
Previous Weekly Low: 109.14
Previous Monthly High: 110
Previous Monthly Low: 104.75
Daily Fibonacci 38.2%: 108.72
Daily Fibonacci 61.8%: 108.86
Daily Pivot Point S1: 108.58
Daily Pivot Point S2: 108.24
Daily Pivot Point S3: 107.99
Daily Pivot Point R1: 109.17
Daily Pivot Point R2: 109.42
Daily Pivot Point R3: 109.76
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