“¢ The pair has been oscillating within 60-70 pips broader trading range since the beginning of this week and has managed to hold/defend confluence support.
“¢ The mentioned support, comprising of 200-hour EMA and a five-day-old ascending trend-line, might now act as a key pivotal point for intraday/short-term traders.
“¢ Given repeated rejections near the 110.00 handle, neutral technical indicators on hourly/daily charts point to indecision over the pair’s near-term trajectory.
“¢ Hence, it would be prudent to wait for a convincing breakthrough the recent trading range before traders start positioning for the next leg of a directional move.
USD/JPY 1-hourly chart
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USD/JPY
Overview:
Today Last Price: 109.78
Today Daily change %: -0.06%
Today Daily Open: 109.85
Trends:
Daily SMA20: 109.35
Daily SMA50: 110.49
Daily SMA100: 111.77
Daily SMA200: 111.27
Levels:
Previous Daily High: 110.09
Previous Daily Low: 109.61
Previous Weekly High: 109.74
Previous Weekly Low: 108.5
Previous Monthly High: 110
Previous Monthly Low: 104.75
Daily Fibonacci 38.2%: 109.79
Daily Fibonacci 61.8%: 109.9
Daily Pivot Point S1: 109.61
Daily Pivot Point S2: 109.37
Daily Pivot Point S3: 109.13
Daily Pivot Point R1: 110.09
Daily Pivot Point R2: 110.33
Daily Pivot Point R3: 110.58
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