“¢ Having failed to sustain the overnight up-move beyond the 109.00 handle, the pair met with some fresh supply on Thursday and snapped two consecutive days of winning streak.
“¢ The intraday slide has now dragged the pair to confluence support – comprising of 50-hour SMA and a short-term ascending trend-line held since the beginning of this week.
“¢ Technical indicators on hourly charts have already started losing positive momentum and maintained their bearish stance on the daily chart, suggesting some fresh weakness.
“¢ A convincing breakthrough the mentioned support will reinforce the bearish outlook and expose the pair to head back towards testing intermediate support near mid-108.00s.
USD/JPY 1-hourly chart
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USD/JPY
Overview:
Today Last Price: 108.84
Today Daily change: -18 pips
Today Daily change %: -0.174%
Today Daily Open: 109.03
Trends:
Daily SMA20: 109.43
Daily SMA50: 111.71
Daily SMA100: 112.09
Daily SMA200: 111.17
Levels:
Previous Daily High: 109.2
Previous Daily Low: 108.37
Previous Weekly High: 109.09
Previous Weekly Low: 107.77
Previous Monthly High: 113.83
Previous Monthly Low: 109.55
Daily Fibonacci 38.2%: 108.88
Daily Fibonacci 61.8%: 108.69
Daily Pivot Point S1: 108.53
Daily Pivot Point S2: 108.04
Daily Pivot Point S3: 107.71
Daily Pivot Point R1: 109.36
Daily Pivot Point R2: 109.69
Daily Pivot Point R3: 110.19
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