“¢ The pair extended its steady intraday climb through the mid-European session, albeit continued with its struggle to make it through the 112.00 round figure mark.
“¢ The recent range-bound price action constituted towards the formation of a rectangular chart pattern on the 1-hourly chart, marking a pause in the recent bullish trend.
“¢ The fact that the pair is holding comfortably above important daily moving averages – 50, 100 & 200-day SMA, support prospects for an eventual bullish breakout and additional gains.
“¢ Oscillators on 4-hourly/daily charts maintained their bullish bias and have again started gaining positive traction on the 1-hourly chart, adding credence to the constructive outlook.
“¢ Traders, however, are likely to wait for a sustained move beyond the mentioned handle before placing any aggressive bids for further appreciation towards 112.55-65 horizontal zone.
USD/JPY 1-hourly chart
USD/JPY
Overview:
Today Last Price: 111.96
Today Daily change: 26 pips
Today Daily change %: 0.23%
Today Daily Open: 111.7
Trends:
Daily SMA20: 110.67
Daily SMA50: 109.84
Daily SMA100: 111.38
Daily SMA200: 111.35
Levels:
Previous Daily High: 112.02
Previous Daily Low: 111.64
Previous Weekly High: 112.08
Previous Weekly Low: 110.35
Previous Monthly High: 111.5
Previous Monthly Low: 108.73
Daily Fibonacci 38.2%: 111.78
Daily Fibonacci 61.8%: 111.87
Daily Pivot Point S1: 111.55
Daily Pivot Point S2: 111.41
Daily Pivot Point S3: 111.18
Daily Pivot Point R1: 111.93
Daily Pivot Point R2: 112.16
Daily Pivot Point R3: 112.31