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   “¢   Having defended a short-term ascending trend-channel support in the previous session, the pair regained positive traction on Thursday and jumped to one-week tops in the last hour.

   “¢   A sustained move back above the very important 200-day SMA hurdle near mid-111.00s was seen as a key trigger for intraday bullish traders amid a slight improvement in risk sentiment.

   “¢   Bullish oscillators on 4-hourly/daily charts support prospects for an extension of the positive momentum, through slightly overbought conditions on the 1-hourly chart warrant caution.

   “¢   Hence, any subsequent up-move is likely to confront heavy supply near the 111.90-112.00 region, above which the pair could aim to reclaim the 113.00 handle and challenge the channel resistance.

USD/JPY daily chart

USD/JPY

Overview:
       Today Last Price:  111.7
       Today Daily change:  54  pips
       Today Daily change %:  0.49%
       Today Daily Open:  111.16
Trends:
       Daily SMA20:  111.11
       Daily SMA50:  110.02
       Daily SMA100:  111.31
       Daily SMA200:  111.42
Levels:
       Previous Daily High:  111.47
       Previous Daily Low:  111
       Previous Weekly High:  112.14
       Previous Weekly Low:  110.78
       Previous Monthly High:  111.5
       Previous Monthly Low:  108.73
       Daily Fibonacci 38.2%:  111.18
       Daily Fibonacci 61.8%:  111.29
       Daily Pivot Point S1:  110.95
       Daily Pivot Point S2:  110.75
       Daily Pivot Point S3:  110.49
       Daily Pivot Point R1:  111.42
       Daily Pivot Point R2:  111.68
       Daily Pivot Point R3:  111.88