USD/JPY consolidates the spike to 104.20 in Asia. Bulls clings to 61.8% Fib resistance on the hourly chart. 103.92 is the strong support, RSI stays bullish. USD/JPY is looking to extend the gains above 104.00, having hit a daily high of 104.20 earlier in the Asian session. The bulls are trying hard to find acceptance above the critical resistance at 104.03, which is the 61.8% Fibonacci Retracement level of the January 12 decline on the hourly chart. However, the path of least resistance appears to the upside amid a bullish Relative Strength Index (RSI), which currently trades at 61.06. The daily highs at 104.20 could be retested, above which January 12 highs at 104.33 will be on the buyers’ radars. To the downside, the 100-hourly moving average (HMA) at 104.00 could cap immediate pullbacks. The confluence of the 50% Fibo level and 100,21-HMA at 103.92 will be a tough nut to crack for the bears. USD/JPY: Hourly chart USD/JPY: Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Biden knocks EUR/USD down, Powell may send it over the edge Yohay Elam 2 years USD/JPY consolidates the spike to 104.20 in Asia. Bulls clings to 61.8% Fib resistance on the hourly chart. 103.92 is the strong support, RSI stays bullish. USD/JPY is looking to extend the gains above 104.00, having hit a daily high of 104.20 earlier in the Asian session. The bulls are trying hard to find acceptance above the critical resistance at 104.03, which is the 61.8% Fibonacci Retracement level of the January 12 decline on the hourly chart. However, the path of least resistance appears to the upside amid a bullish Relative Strength Index (RSI), which currently trades at 61.06. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
