USD/JPY’s bullish exit from the contracting triangle indicates scope for a test of supply around the psychological hurdle of 110.00. As of writing, the pair is trading at 109.75.
Hourly chart
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- The triangle breakout validates the bullish view put forward by the channel breakout witnessed on Jan. 22.
- The bull breakout is backed by an above-50 reading above the 14-day relative strength index (RSI) and ascending 50- and 100-hour moving averages (MAs).
- The pair, therefore, could rise to 110.00. The bullish case would weaken if the spot falls back below the previous day’s low of 109.42.
Trend: bullish
USD/JPY
Overview:
Today Last Price: 109.74
Today Daily change: 0.13 pips
Today Daily change %: 0.12%
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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