Home Markets USD/JPY Price Analysis: Stumbles below 134.00 and the 200 DMA

USD/JPY Price Analysis: Stumbles below 134.00 and the 200 DMA

USD/JPY Price Analysis: Stumbles below 134.00 and the 200 DMA
  • USD/JPY pulled back from daily highs of 120 points as the dollar is being offered.
  • USD/JPY: Daily close below the 200 DMA opens the door for a fall to 131.75.

The US dollar (USD) it gave back its earlier gains courtesy of upbeat economic data released in the United States (US) and fell 0.52% against the Japanese yen (JPY). At the time of writing this article, the USD/JPY It is trading at 134.63, below the 200 day EMA, as the yen prepares to end the week with gains of 3.26%.

USD/JPY Price Analysis: Technical Perspective

The daily chart of USD/JPY shows the pair with a bearish bias after breaking through the 200 day EMA and a bullish support trend line from five months ago. However, encouraging data out of the US exacerbated a rally towards Friday’s high of 135.98. However, the Relative Strength Index (RSI) in bearish territory and the Rate of Change (RoC) pointing lower showed that sellers were gathering momentum. Ultimately, USD/JPY erased those gains and more.

If USD/JPY makes a daily close below the 200 day EMA at 134.99, it could pave the way for more bearish action. The key support level for USD/JPY would be the psychological figure of 134.00. A break of the latter could open the door for a 220 point drop towards the August 11 low at 131.73, followed by the August low at 130.39.

Key USD/JPY Technical Levels


Last price today 134.68
Today I change daily -0.63
Today Daily Variation % -0.47
today’s daily opening 135.31
daily SMA20 140.78
daily SMA50 144.32
daily SMA100 141.18
daily SMA200 134.41
previous daily high 138.15
previous daily low 135.21
Previous Weekly High 142.25
previous weekly low 138.05
Previous Monthly High 148.82
Previous monthly minimum 137.5
Daily Fibonacci of 38.2%. 136.33
Daily Fibonacci of 61.8% 137.03
Daily Pivot Point S1 134.3
Daily Pivot Point S2 133.29
Daily Pivot Point S3 131.36
Daily Pivot Point R1 137.24
Daily Pivot Point R2 139.16
Daily Pivot Point R3 140.17

Source: Fx Street



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