USD/JPY Analysis: Recovery remains capped near 108.00 handle, 50% Fibo. level
• The pair recovered some of its early lost ground to over nine-month lows, albeit struggled to make it back above the 108.00 round figure mark.
• The mentioned handle coincides with 50% Fibo. level of the 111.41-104.69 post-Christmas downfall and might continue to cap the attempted recovery.
• A convincing breakthrough the mentioned glass ceiling will increase prospects for a strong recovery towards the 108.80-85 region (61.8% Fibo. level).
• Technical indicators on hourly charts have just started moving away from highly oversold zone but remain well within the bearish territory, warranting some caution.
Today Last Price: 107.79
Today Daily change: -1.3e+2 pips
Today Daily change %: -1.18%
Today Daily Open: 109.08
Previous Daily SMA20: 111.71
Previous Daily SMA50: 112.6
Previous Daily SMA100: 112.33
Previous Daily SMA200: 111.08
Previous Daily High: 109.76
Previous Daily Low: 108.71
Previous Weekly High: 111.41
Previous Weekly Low: 110
Previous Monthly High: 113.83
Previous Monthly Low: 109.55
Previous Daily Fibonacci 38.2%: 109.11
Previous Daily Fibonacci 61.8%: 109.36
Previous Daily Pivot Point S1: 108.61
Previous Daily Pivot Point S2: 108.13
Previous Daily Pivot Point S3: 107.55
Previous Daily Pivot Point R1: 109.66
Previous Daily Pivot Point R2: 110.24
Previous Daily Pivot Point R3: 110.72