“¢ The pair finally broke down of its two-day old consolidative trading range and dropped to near one-month lows at the start of a new trading week.
“¢ Against the backdrop of some renewed USD selling, fragile global risk sentiment underpinned the JPY’s safe-haven status and kept exerting downward pressure.
“¢ With short-term technical indicators on the daily chart gradually drifting into negative territory, bears are likely to aim towards challenging the 100-day SMA support.
“¢ A sustained weakness below the mentioned support, for the first time since April, will mark a fresh bearish breakdown and open room for a further near-term depreciating move.
USD/JPY daily chart
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USD/JPY
Overview:
Last Price: 111.87
Daily change: -34 pips
Daily change: -0.303%
Daily Open: 112.21
Trends:
Daily SMA20: 112.99
Daily SMA50: 111.85
Daily SMA100: 111.29
Daily SMA200: 109.83
Levels:
Daily High: 112.51
Daily Low: 111.88
Weekly High: 113.96
Weekly Low: 111.83
Monthly High: 114.56
Monthly Low: 111.66
Daily Fibonacci 38.2%: 112.27
Daily Fibonacci 61.8%: 112.12
Daily Pivot Point S1: 111.89
Daily Pivot Point S2: 111.56
Daily Pivot Point S3: 111.25
Daily Pivot Point R1: 112.52
Daily Pivot Point R2: 112.83
Daily Pivot Point R3: 113.16
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