USD/JPY meets with some fresh supply amid the prevailing risk-off mood. The set-up supports prospects for the emergence of some dip-buying interest. The USD/JPY pair failed to capitalize on its intraday positive move, rather met with some fresh supply near the 111.65-70 region and has now retreated to the lower end of its daily trading range. The Asian session swing lows, around the 111.25 region, coincides with 38.2% Fibonacci level of the 109.66-112.23 upsurge and is closely followed by 100-hour SMA, around the 111.15 area. A convincing break through would be seen as a key trigger for bearish traders and turn the pair vulnerable to accelerate the slide towards 61.8% Fibo. level near the 110.65-60r region. Meanwhile, technical indicators on the 1-hourly chart have been gaining negative traction, albeit have still managed to hold well within the bullish territory on 4-hourly/daily charts. The set-up support prospects for the emergence of some dip-buying and thus warrants some caution before positioning aggressively for any further near-term corrective slide. USD/JPY 1-hourly chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY Price Analysis: Decline is challenging the 200-day SMA FX Street 2 years USD/JPY meets with some fresh supply amid the prevailing risk-off mood. The set-up supports prospects for the emergence of some dip-buying interest. The USD/JPY pair failed to capitalize on its intraday positive move, rather met with some fresh supply near the 111.65-70 region and has now retreated to the lower end of its daily trading range. The Asian session swing lows, around the 111.25 region, coincides with 38.2% Fibonacci level of the 109.66-112.23 upsurge and is closely followed by 100-hour SMA, around the 111.15 area. A convincing break through would be seen as a key trigger for bearish traders and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
