“¢ The pair has been climbing steadily along a short-term ascending trend-line over the past one week or so but repeatedly failed near the key 110.00 psychological mark.
“¢ The combination now seems to constitute towards the formation of an ascending triangle on the 1 -hourly chart, typically a continuation pattern that indicates accumulation.
“¢ Technical indicators on hourly charts haven’t been able to gain any meaningful traction and are just holding in neutral territory on the daily chart, clearly suggesting indecision.
“¢ Despite the neutral technical set-up, the bullish formation support prospects for some near-term gains though will be confirmed only after a sustained breakthrough the mentioned barrier.
USD/JPY 1-hourly chart
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USD/JPY
Overview:
Today Last Price: 109.78
Today Daily change %: 0.16%
Today Daily Open: 109.61
Trends:
Daily SMA20: 109.02
Daily SMA50: 111.21
Daily SMA100: 112
Daily SMA200: 111.24
Levels:
Previous Daily High: 109.8
Previous Daily Low: 109.42
Previous Weekly High: 109.9
Previous Weekly Low: 107.99
Previous Monthly High: 113.83
Previous Monthly Low: 109.55
Daily Fibonacci 38.2%: 109.57
Daily Fibonacci 61.8%: 109.66
Daily Pivot Point S1: 109.42
Daily Pivot Point S2: 109.23
Daily Pivot Point S3: 109.04
Daily Pivot Point R1: 109.8
Daily Pivot Point R2: 109.99
Daily Pivot Point R3: 110.18
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