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  • USD/JPY is on bid around 111.00 during early Monday.
  • The quote took a U-turn from nearly ten-week-old ascending support-line stretched since January 03 lows after flash crash.
  • With this, buyers can aim for 111.60 on the break of 111.20 immediate resistance. However, a downward sloping trendline joining recent highs can challenge the pair’s upside then after.
  • If at all prices rally beyond 111.60, 112.20 and 61.8% Fibonacci expansion (FE) of recent moves, at 112.50, can entertain bulls.
  • Meanwhile, the downside break of 110.80 support-line highlights the importance of 23.6% Fibonacci retracement of January – March recovery, at 110.40.
  • Additionally, pair’s extended declines under 110.40 might not refrain from recalling 110.00 and 109.60 on the chart.

USD/JPY 4-Hour chart

Additional important levels:

Overview:
       Today Last Price:  111.1
       Today Daily change:  -3  pips
       Today Daily change %:  -0.03%
       Today Daily Open:  111.13
Trends:
       Daily SMA20:  111.02
       Daily SMA50:  109.91
       Daily SMA100:  111.35
       Daily SMA200:  111.4
Levels:
       Previous Daily High:  111.7
       Previous Daily Low:  110.78
       Previous Weekly High:  112.14
       Previous Weekly Low:  110.78
       Previous Monthly High:  111.5
       Previous Monthly Low:  108.73
       Daily Fibonacci 38.2%:  111.13
       Daily Fibonacci 61.8%:  111.35
       Daily Pivot Point S1:  110.7
       Daily Pivot Point S2:  110.28
       Daily Pivot Point S3:  109.78
       Daily Pivot Point R1:  111.63
       Daily Pivot Point R2:  112.13
       Daily Pivot Point R3:  112.56