The USD/JPY looks set to test the symmetrical triangle resistance of 114.08 and could move past that hurdle if Fed’s Q3 GDP indicates the economy is showing resilience in the face of rising overseas risks and Fed’s Powell boosts bets of an extended tightening cycle. The relative strength index on the hourly and 4-hour chart is signaling overbought conditions. The dips, if any, however, could be short-lived as the ascending 20-, 50-, 100-, and 200-hour moving averages (MAs) are trending north, indicating the path of least resistance is on the higher side. The dollar bulls need to watch out for a deeper pullback in the US 10-year yield, though, as the yield barely moved after hawkish comments from Fed’s Clarida and is struggling to move past the former-support-turned resistance of double top neckline of 3.057 percent. Hourly Chart Trend: Bullish USD/JPY Overview:     Today Last Price:  113.83     Today Daily change:  5.0  pips     Today Daily change %:  0.0439%     Today Daily Open:  113.78 Trends:     Previous Daily SMA20:  113.29     Previous Daily SMA50:  113     Previous Daily SMA100:  112.2     Previous Daily SMA200:  110.33 Levels:     Previous Daily High:  113.84     Previous Daily Low:  113.41     Previous Weekly High:  113.24     Previous Weekly Low:  112.3     Previous Monthly High:  114.56     Previous Monthly Low:  111.38     Previous Daily Fibonacci 38.2%:  113.68     Previous Daily Fibonacci 61.8%:  113.58     Previous Daily Pivot Point S1:  113.51     Previous Daily Pivot Point S2:  113.24     Previous Daily Pivot Point S3:  113.08     Previous Daily Pivot Point R1:  113.94     Previous Daily Pivot Point R2:  114.11     Previous Daily Pivot Point R3:  114.38  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 RBNZ Financial Stability Report: Easing cautiously off the brake – ANZ FX Street 4 years The USD/JPY looks set to test the symmetrical triangle resistance of 114.08 and could move past that hurdle if Fed's Q3 GDP indicates the economy is showing resilience in the face of rising overseas risks and Fed's Powell boosts bets of an extended tightening cycle. The relative strength index on the hourly and 4-hour chart is signaling overbought conditions. The dips, if any, however, could be short-lived as the ascending 20-, 50-, 100-, and 200-hour moving averages (MAs) are trending north, indicating the path of least resistance is on the higher side. The dollar bulls need to watch out for… 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.
