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   “¢   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

   “¢   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


       Today Last Price:  110.68
       Today Daily change %:  0.00%
       Today Daily Open:  110.68
       Daily SMA20:  110.09
       Daily SMA50:  109.9
       Daily SMA100:  111.45
       Daily SMA200:  111.31
       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