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   “¢   The pair extended the overnight dismal US data-led retracement slide from YTD tops and remained under some selling pressure for the second consecutive session on Friday.

   “¢   The downward momentum has now dragged the pair closer to confluence support, comprising of 200-hour SMA and 61.8% Fibo. level of the 109.61-111.13 recent leg of an up-move.

   “¢   Technical indicators on the 4-hourly chart have just started gaining negative momentum but are on the verge of dropping into the oversold zone on the 1-hourly chart, warranting some caution.

   “¢   Hence, traders are likely to wait for a sustained break below the mentioned support before positioning for any further near-term downside amid bullish oscillators on the daily chart.  

USD/JPY 1-hourly chart


       Today Last Price:  110.33
       Today Daily change %:  -0.17%
       Today Daily Open:  110.52
       Daily SMA20:  109.78
       Daily SMA50:  110.21
       Daily SMA100:  111.65
       Daily SMA200:  111.3
       Previous Daily High:  111.13
       Previous Daily Low:  110.45
       Previous Weekly High:  110.16
       Previous Weekly Low:  109.43
       Previous Monthly High:  110
       Previous Monthly Low:  104.75
       Daily Fibonacci 38.2%:  110.71
       Daily Fibonacci 61.8%:  110.87
       Daily Pivot Point S1:  110.27
       Daily Pivot Point S2:  110.02
       Daily Pivot Point S3:  109.6
       Daily Pivot Point R1:  110.95
       Daily Pivot Point R2:  111.38
       Daily Pivot Point R3:  111.62