“¢ A weaker opening around the US equity markets prompted some safe-haven buying and exerted some downward pressure during the early North-American session. “¢ Technically, the price has been trending higher alongside a short-term ascending trend-channel formation on the 1-hourly chart over the past two weeks or so. “¢ The channel support coincides with 100-hour SMA and would act as a key trigger for the bearish traders amid broad-based USD weakness. “¢ Meanwhile, indicators on the mentioned chart have started losing positive momentum, albeit are holding comfortably in the bullish territory on the daily chart. “¢ Hence, any meaningful dip towards the lower trend-line support, coinciding with 100-hour SMA, would be bought into and thus, limit any immediate fall. USD/JPY 1-hourly chart Spot Rate: 112.61 Daily High: 112.71 Daily Low: 112.40 Trend: Bullish Resistance R1: 112.71 (current day swing high) R2: 113.00 (round figure mark) R3: 113.30 (R3 daily pivot-point) Support S1: 112.40 (current day swing low) S2: 112.10 (200-period SMA H1) S3: 111.91 (S3 daily pivot-point) 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 ECB’s Draghi: Unlikely that Ireland would be left alone after hard Brexit FX Street 5 years "¢ A weaker opening around the US equity markets prompted some safe-haven buying and exerted some downward pressure during the early North-American session. "¢ Technically, the price has been trending higher alongside a short-term ascending trend-channel formation on the 1-hourly chart over the past two weeks or so. "¢ The channel support coincides with 100-hour SMA and would act as a key trigger for the bearish traders amid broad-based USD weakness. "¢ Meanwhile, indicators on the mentioned chart have started losing positive momentum, albeit are holding comfortably in the bullish territory on… 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.
