“¢ The pair continued showing some resilience below 100-day SMA, with oversold conditions on hourly charts prompting some short-covering move in the last hour.
“¢ However, technical indicators on the daily chart have started gaining negative momentum and hence, any attempted recovery seems more likely to be short-lived.
“¢ The set-up clearly points to an eventual bearish breakthrough the mentioned support, paving the way for a test of sub-112.00 level in the near-term.
USD/JPY daily chart
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USD/JPY
Overview:
Today Last Price: 112.4
Today Daily change: -35 pips
Today Daily change %: -0.310%
Today Daily Open: 112.75
Trends:
Previous Daily SMA20: 113.21
Previous Daily SMA50: 112.99
Previous Daily SMA100: 112.39
Previous Daily SMA200: 110.79
Levels:
Previous Daily High: 113.52
Previous Daily Low: 112.68
Previous Weekly High: 113.71
Previous Weekly Low: 112.24
Previous Monthly High: 114.25
Previous Monthly Low: 112.3
Previous Daily Fibonacci 38.2%: 113
Previous Daily Fibonacci 61.8%: 113.2
Previous Daily Pivot Point S1: 112.45
Previous Daily Pivot Point S2: 112.14
Previous Daily Pivot Point S3: 111.6
Previous Daily Pivot Point R1: 113.29
Previous Daily Pivot Point R2: 113.83
Previous Daily Pivot Point R3: 114.13
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