USD/JPY rises to 23.6% Fibonacci retracement after posting a Doji on Friday. 200-day SMA keeps the quote’s upside capped for the last two weeks. 50-day SMA, 38.2% Fibonacci retracement limit near-term declines. Although it is trading near a four day high, around 108.75 by the press time of early Monday, the USD/JPY pair confronts short-term resistance following a trend reversal candlestick formation flashed the previous day. With the Friday’s Doji candlestick formation on the daily (D1) chart increasing odds for the pair’s pullback, sellers look for entry below 50-day Simple Moving Average (SMA) and 38.2% Fibonacci retracement of October-November upside, around 108.35/30. In doing so, the monthly bottom surrounding 107.90 and 61.8% Fibonacci retracement level close to 107.62 will be on bears’ radar. Alternatively, pair’s upside beyond 23.6% Fibonacci retracement of 108.80 will need to cross a 200-day SMA level of 109.00, which in turn could propel prices towards the monthly top around 109.50. USD/JPY daily chart Trend: Pullback expected 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 China should lower small banks’ capital replenishment barriers – People’s Daily FX Street 3 years USD/JPY rises to 23.6% Fibonacci retracement after posting a Doji on Friday. 200-day SMA keeps the quote's upside capped for the last two weeks. 50-day SMA, 38.2% Fibonacci retracement limit near-term declines. Although it is trading near a four day high, around 108.75 by the press time of early Monday, the USD/JPY pair confronts short-term resistance following a trend reversal candlestick formation flashed the previous day. With the Friday's Doji candlestick formation on the daily (D1) chart increasing odds for the pair's pullback, sellers look for entry below 50-day Simple Moving Average (SMA) and 38.2% Fibonacci retracement of October-November upside,… 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.
