Wed, 12 May 2021 07:20:03 GMT
USD/JPY respects Fibonacci retracement
The support of the 50.00% Fibonacci retracement level at 108.35 held and caused another surge to the technical levels near 109.00. During the early hours of Wednesday's trading, the pair had reached the resistance of the weekly simple pivot and the 100-hour simple moving average at 108.90.
If the rate manages to pass the weekly simple pivot point's and 100-hour SMA's