“¢ The pair showed some resilience below 200-hour SMA and regained positive traction on Friday, with bulls eyeing a move towards conquering the 111.00 mark amid US-China trade optimism.
“¢ Bullish oscillators on hourly/daily charts support prospects for an extension of the ongoing up-move, though traders are likely to wait for a sustained break through the mentioned handle.
“¢ A follow-through buying is likely to trigger a short-covering move and has the potential to accelerate the appreciating move towards a confluence resistance around the 111.30-40 region.
“¢ The said barrier comprises of 200-DMA, 100-DMA and the top end of a short-term ascending trend-channel held since the beginning of this year, and might cap any further gains.
USD/JPY daily chart
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USD/JPY
Overview:
Today Last Price: 110.88
Today Daily change %: 0.16%
Today Daily Open: 110.7
Trends:
Daily SMA20: 110.03
Daily SMA50: 109.96
Daily SMA100: 111.48
Daily SMA200: 111.31
Levels:
Previous Daily High: 110.91
Previous Daily Low: 110.57
Previous Weekly High: 111.13
Previous Weekly Low: 109.7
Previous Monthly High: 110
Previous Monthly Low: 104.75
Daily Fibonacci 38.2%: 110.7
Daily Fibonacci 61.8%: 110.78
Daily Pivot Point S1: 110.54
Daily Pivot Point S2: 110.38
Daily Pivot Point S3: 110.2
Daily Pivot Point R1: 110.89
Daily Pivot Point R2: 111.07
Daily Pivot Point R3: 111.23
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