Search ForexCrunch

   “¢   Fresh concerns about the health of the global economy provided a strong boost to the JPY’s relative safe-haven status and prompted some aggressive selling around the major.

   “¢   A sustained weakness back below the very important 200-day SMA was seen as a key trigger for bearish traders and behind the pair’s sharp intraday slide to over one-week lows.

   “¢   The downward momentum further dragged the pair below 23.6% Fibo. level of the 108.50-112.14 up-move, with bears now eyeing a decisive break through the 111.00 mark.

   “¢   The mentioned handle marks a short-term ascending trend-line support, extending from early Feb. lows, and should act as a key pivotal point for the pair’s near-term trajectory.

   “¢   Technical indicators on hourly charts are already pointing to oversold conditions and seemed to be the only factor helping limit further downside ahead of today’s key data risk – NFP.

USD/JPY daily chart


       Today Last Price:  111.02
       Today Daily change:  -61  pips
       Today Daily change %:  -0.55%
       Today Daily Open:  111.63
       Daily SMA20:  110.95
       Daily SMA50:  109.89
       Daily SMA100:  111.36
       Daily SMA200:  111.39
       Previous Daily High:  111.86
       Previous Daily Low:  111.48
       Previous Weekly High:  112.08
       Previous Weekly Low:  110.35
       Previous Monthly High:  111.5
       Previous Monthly Low:  108.73
       Daily Fibonacci 38.2%:  111.63
       Daily Fibonacci 61.8%:  111.72
       Daily Pivot Point S1:  111.45
       Daily Pivot Point S2:  111.28
       Daily Pivot Point S3:  111.07
       Daily Pivot Point R1:  111.83
       Daily Pivot Point R2:  112.04
       Daily Pivot Point R3:  112.21