The USD/JPY is trading at the 50-hour moving average (MA) support of 113.44, having suffered a descending triangle breakdown on the 15-minute chart earlier today.
15-minute chart
- The bears are in a commanding position on the 15-minute chart, courtesy of the triangle breakdown and a deeper drop to 113.14 could unfold if the spot establishes a lower low with a move below 113.42.
Hourly chart
- As seen above, the pair has created a falling channel for the third time in five days. The previous two falling channel ended with a bull breakout and history might repeat itself if the equities stabilize in Europe, reducing the haven demand for the JPY and the US retail sales, due at 13:30 GMT, blow past expectations.
Trend: Neutral
USD/JPY
Overview:
Today Last Price: 113.45
Today Daily change: -15 pips
Today Daily change %: -0.132%
Today Daily Open: 113.6
Trends:
Previous Daily SMA20: 113.17
Previous Daily SMA50: 113
Previous Daily SMA100: 112.35
Previous Daily SMA200: 110.72
Levels:
Previous Daily High: 113.71
Previous Daily Low: 113.18
Previous Weekly High: 113.83
Previous Weekly Low: 112.23
Previous Monthly High: 114.25
Previous Monthly Low: 112.3
Previous Daily Fibonacci 38.2%: 113.51
Previous Daily Fibonacci 61.8%: 113.39
Previous Daily Pivot Point S1: 113.29
Previous Daily Pivot Point S2: 112.97
Previous Daily Pivot Point S3: 112.76
Previous Daily Pivot Point R1: 113.81
Previous Daily Pivot Point R2: 114.02
Previous Daily Pivot Point R3: 114.34