“¢ The pair extended previous session’s bearish breakthrough a rectangular chart pattern and tumbled to over one-week low during the early North-American session on Thursday.
“¢ A sustained weakness below overnight/early European session swing low level of 113.30 was seen as a key trigger behind the latest leg of a sudden drop to an important confluence support.
“¢ The mentioned confluence region comprises 38.2% Fibonacci retracement level the 111.38-114.21 recent upsurge and 100-period SMA on the 4-hourly chart.
“¢ However, technical indicators on hourly charts have dropped into oversold territory, but are still holding in the bullish territory on the daily chart.
“¢ Hence, bearish traders are likely to wait for a sustained breakthrough the 113.00 handle before confirming that the pair might have topped out in the near-term or positioning for any further depreciating move.
USD/JPY 4-hourly chart
-636778892547716018.png)
USD/JPY
Overview:
Last Price: 113.14
Daily change: -36 pips
Daily change: -0.317%
Daily Open: 113.5
Trends:
Daily SMA20: 113
Daily SMA50: 112.72
Daily SMA100: 111.98
Daily SMA200: 110.1
Levels:
Daily High: 114.02
Daily Low: 113.3
Weekly High: 114.1
Weekly Low: 112.94
Monthly High: 114.56
Monthly Low: 111.38
Daily Fibonacci 38.2%: 113.57
Daily Fibonacci 61.8%: 113.74
Daily Pivot Point S1: 113.19
Daily Pivot Point S2: 112.88
Daily Pivot Point S3: 112.47
Daily Pivot Point R1: 113.92
Daily Pivot Point R2: 114.33
Daily Pivot Point R3: 114.64
Share
