• 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

 

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