“¢ The pair continued with its struggle to build on the momentum further beyond the 114.00 handle and was now being capped by a fresh wave of risk-aversion trade “¢ Overbought conditions on hourly/daily charts turned out to be one of the key factors prompting some long-unwinding trade amid concerns over Italy’s budget proposals. “¢ The corrective slide dragged the pair below 23.6% Fibonacci retracement level of the 112.56-114.06 up move, with bulls trying to defend the 113.60 resistance turned support. “¢ Failure to defend the mentioned support might trigger some more weakness and pave the way for an extension of the corrective slide towards the 50% Fibonacci retracement level support. USD/JPY 1-hourly chart Spot Rate: 113.68 Daily High: 114.02 Trend: Overall bullish Resistance R1: 114.06 (YTD tops set yesterday) R2: 114.28 (R2 daily pivot-point) R3: 114.45 (horizontal zone) Support S1: 113.30 (50% Fibo. level) S2: 113.02 (200-period SMA H1) S3: 112.56 (last Thursday’s swing low) 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 Germany: Persistent current account surplus – BNP Paribas FX Street 4 years "¢ The pair continued with its struggle to build on the momentum further beyond the 114.00 handle and was now being capped by a fresh wave of risk-aversion trade "¢ Overbought conditions on hourly/daily charts turned out to be one of the key factors prompting some long-unwinding trade amid concerns over Italy's budget proposals. "¢ The corrective slide dragged the pair below 23.6% Fibonacci retracement level of the 112.56-114.06 up move, with bulls trying to defend the 113.60 resistance turned support. "¢ Failure to defend the mentioned support might trigger… 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.
