- The USD/JPY is currently trading at 113.92, down 0.12 percent on the day, and could drop further to the 5-day exponential moving average (EMA) of 113.65 as the indicators on the hourly chart have rolled over in favor of the bears.
- For instance, the hourly chart RSI is flashing a bearish divergence and has eroded the rising trendline. The stochastic has rolled over from the overbought territory and the MACD is producing a bearish crossover.
- The pullbacks, however, could be short-lived as the pair closed yesterday above the previous day’s high of 113.82, bolstering the already bullish setup on the daily chart: higher lows and higher highs and ascending 5-, 10-, 50-day EMAs.
Hourly Chart
Trend: minor pullback likely before further gains
USD/JPY
Overview:
Last Price: 113.88
Daily change: -11 pips
Daily change: -0.0965%
Daily Open: 113.99
Trends:
Daily SMA20: 112.7
Daily SMA50: 112.53
Daily SMA100: 111.83
Daily SMA200: 110.02
Levels:
Daily High: 114.02
Daily Low: 113.48
Weekly High: 113.4
Weekly Low: 111.78
Monthly High: 114.56
Monthly Low: 111.38
Daily Fibonacci 38.2%: 113.81
Daily Fibonacci 61.8%: 113.68
Daily Pivot Point S1: 113.64
Daily Pivot Point S2: 113.28
Daily Pivot Point S3: 113.09
Daily Pivot Point R1: 114.18
Daily Pivot Point R2: 114.37
Daily Pivot Point R3: 114.73
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