“¢ The pair extended its sideways consolidative price action through the early European session, with 200-hour EMA protecting the immediate downside amid the prevalent risk-on mood.
“¢ Neutral technical indicators on hourly charts haven’t been supportive of any firm intraday direction, though bullish oscillators on the daily chart point to further near-term positive move.
USD/JPY 1-hourly chart
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“¢ Bulls, however, seemed to wait for a sustained move beyond the 111.00 handle before positioning for a further up-move towards challenging 100-day SMA barrier near the 111.50 region.
“¢ A follow-through buying has the potential to lift the pair further towards reclaiming the 112.00 handle, coinciding with near two-month-old ascending trend-channel on the daily chart.
Daily chart
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USD/JPY
Overview:
Today Last Price: 110.68
Today Daily change %: 0.00%
Today Daily Open: 110.68
Trends:
Daily SMA20: 110.09
Daily SMA50: 109.9
Daily SMA100: 111.45
Daily SMA200: 111.31
Levels:
Previous Daily High: 110.91
Previous Daily Low: 110.55
Previous Weekly High: 110.96
Previous Weekly Low: 110.42
Previous Monthly High: 110
Previous Monthly Low: 104.75
Daily Fibonacci 38.2%: 110.69
Daily Fibonacci 61.8%: 110.77
Daily Pivot Point S1: 110.52
Daily Pivot Point S2: 110.36
Daily Pivot Point S3: 110.17
Daily Pivot Point R1: 110.87
Daily Pivot Point R2: 111.07
Daily Pivot Point R3: 111.23
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