“¢ The pair once again managed to find decent support near 100-day SMA, forming a bullish reversal double-bottom pattern on short-term charts.
“¢ A convincing breakthrough 100-hour SMA was further seen as a key trigger for bullish traders and behind a sudden pickup over the past hour or so.
“¢ Technical indicators on the 1-hourly chart have been gaining traction and support prospects for an extension of the strong intraday positive momentum.
“¢ Meanwhile, oscillators on 4-hourly/daily chart are yet to catch up with the recovery move and warrant some caution before initiating fresh bullish positions.
“¢ Hence, it would be prudent to wait for a sustained move beyond the 113.15-20 supply zone before confirming that the pair might have already bottomed out.
USD/JPY 1-hourly chart
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USD/JPY
Overview:
Today Last Price: 112.98
Today Daily change: 35 pips
Today Daily change %: 0.311%
Today Daily Open: 112.63
Trends:
Previous Daily SMA20: 113.23
Previous Daily SMA50: 113.06
Previous Daily SMA100: 112.26
Previous Daily SMA200: 110.58
Levels:
Previous Daily High: 112.93
Previous Daily Low: 112.55
Previous Weekly High: 113.83
Previous Weekly Low: 112.23
Previous Monthly High: 114.25
Previous Monthly Low: 112.3
Previous Daily Fibonacci 38.2%: 112.7
Previous Daily Fibonacci 61.8%: 112.79
Previous Daily Pivot Point S1: 112.48
Previous Daily Pivot Point S2: 112.33
Previous Daily Pivot Point S3: 112.1
Previous Daily Pivot Point R1: 112.86
Previous Daily Pivot Point R2: 113.08
Previous Daily Pivot Point R3: 113.24
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