USD/JPY fails to sustain bounces off 50% Fibonacci retracement. October low gains bears’ attention during the downside break. The USD/JPY pair’s failure to stay strong beyond three-day highs drags it back to key support confluence as it trades near 108.60 during early Tuesday. The pair now aims to re-test 50% Fibonacci retracement of April-August declines, at 108.40. However, a confluence of 50 and 100-day Exponential Moving Average (EMA) around 108.30/25 will be the key to limit the pair’s further downside. In a case where prices close below 108.25, October month bottom surrounding 106.50 will be in the spotlight. On the contrary, a daily closing beyond 61.8% Fibonacci retracement level of 109.36 opens the door for the quote’s extended run-up to 110.00 round-figure, near May 30 high, whereas May 21 top close to 110.70 could please buyers next. If at all bulls manage to cross 110.70, early-April low near 110.85 could question bulls targeting the yearly top near 112.40. USD/JPY daily chart Trend: Bullish 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 appears set on trying to ‘wait Trump out’ – Rabobank FX Street 3 years USD/JPY fails to sustain bounces off 50% Fibonacci retracement. October low gains bears' attention during the downside break. The USD/JPY pair's failure to stay strong beyond three-day highs drags it back to key support confluence as it trades near 108.60 during early Tuesday. The pair now aims to re-test 50% Fibonacci retracement of April-August declines, at 108.40. However, a confluence of 50 and 100-day Exponential Moving Average (EMA) around 108.30/25 will be the key to limit the pair's further downside. In a case where prices close below 108.25, October month bottom surrounding 106.50 will be in the spotlight. On 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.
