USD/JPY Technical Analysis: Stuck in a range below 109.00 handle in pre-NFP lull

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   •  The pair extended its sideways consolidative price action and remained capped below 50-hour SMA, or the 109.00 handle ahead of the keenly watched US monthly jobs report (NFP).

   •  The mentioned hurdle coincides with 38.2% Fibonacci retracement level of the 109.74-108.50 post-FOMC sharp fall and should now act as a key pivotal point for short-term traders. 

   •  Meanwhile, neutral technical indicators on the 1-hourly chart have failed to support a firm intraday direction and are still far from recovering from the bearish territory on 4-hourly/daily charts.

   •  Hence, it would be prudent to wait for a sustained move beyond the mentioned confluence hurdle before positioning for any further up-move towards reclaiming the key 110.00 psychological mark.

USD/JPY 1-hourly chart


	USD/JPY Technical Analysis: Stuck in a range below 109.00 handle in pre-NFP lull

USD/JPY

Overview:
    Today Last Price: 108.9
    Today Daily change %: -0.02%
    Today Daily Open: 108.92
Trends:
    Daily SMA20: 109.01
    Daily SMA50: 110.85
    Daily SMA100: 111.89
    Daily SMA200: 111.26
Levels:
    Previous Daily High: 109.08
    Previous Daily Low: 108.5
    Previous Weekly High: 110
    Previous Weekly Low: 109.14
    Previous Monthly High: 110
    Previous Monthly Low: 104.75
    Daily Fibonacci 38.2%: 108.72
    Daily Fibonacci 61.8%: 108.86
    Daily Pivot Point S1: 108.58
    Daily Pivot Point S2: 108.24
    Daily Pivot Point S3: 107.99
    Daily Pivot Point R1: 109.17
    Daily Pivot Point R2: 109.42
    Daily Pivot Point R3: 109.76

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