USD/JPY added to the previous day’s recovery move from 104.00 mark, or multi-month lows. A sustained move above 100-hour SMA might be seen as a trigger for intraday bullish traders. Strength beyond the 105.00 mark runs the risk of fizzling out quickly near the 105.30-40 area. The USD/JPY pair jumped back closer to the overnight swing high, with bulls now eyeing a move towards reclaiming the key 105.00 psychological mark. A sustained strength beyond 100-hour SMA was seen as a key trigger for intraday bullish traders and supports prospects for additional gains. The intraday positive outlook is reinforced by bullish oscillators on the 1-hourly chart. However, technical indicators on the daily chart are yet to recover from the bearish territory. This, in turn, warrants some caution for bullish traders and before positioning for any further move up. Hence, the ongoing recovery move might still be categorized as a corrective bounce, which runs the risk of fizzling out rather quickly. Any subsequent move beyond the 105.00 mark might still be seen as a selling opportunity and remain capped near the 105.30-40 strong horizontal support breakpoint. On the flip side, the 104.40 region now seems to have emerged as immediate support. Failure to defend the mentioned support might be seen as a fresh trigger for bearish traders and drag the pair back towards the 104.00 mark, or over six-month lows touched on Monday. Some follow-through selling should pave the way for an extension of the recent depreciating move and turn the pair vulnerable to slide towards testing the 103.00 mark. The downward trajectory could further get extended towards March daily closing lows support, near the 102.35 region. USD/JPY 1-hourly chart Technical levels to watch 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 EU: Consumer Confidence Indicator improves slightly to -13.9 in September vs. -14.6 expected FX Street 2 years USD/JPY added to the previous day’s recovery move from 104.00 mark, or multi-month lows. A sustained move above 100-hour SMA might be seen as a trigger for intraday bullish traders. Strength beyond the 105.00 mark runs the risk of fizzling out quickly near the 105.30-40 area. The USD/JPY pair jumped back closer to the overnight swing high, with bulls now eyeing a move towards reclaiming the key 105.00 psychological mark. A sustained strength beyond 100-hour SMA was seen as a key trigger for intraday bullish traders and supports prospects for additional gains. The intraday positive outlook is reinforced by bullish… 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.