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  • USD/JPY is trading in a bull trend above its 200-period simple moving average on the 4-hour chart.
  • USD/JPY has broken the 113.00 resistance which acted as strong resistance in the last weeks of trading. The RSI and MACD indicators are pointing upwards while the RSI is already in overbought territory.  
  • Targets to the upside can be located near 113.55 (October 2 low) and 114.00 figure. A bear breakout below the 113.00 support would likely invalidate the current bullish bias.  

USD/JPY 4-hour chart

Main trend:               Bullish

Resistance 1:    113.55 October 2 low
Resistance 2:    114.00 figure
Resistance 3:    114.57 October high

Support 1:    113.00 figure
Support 2:    112.55 September 27 low
Support 3:    112.00-112.17 zone, figure and August 1 swing high
Support 4:    111.00 figure
Support 5:    110.35 September Low
Support 6:    109.75 August low

 

Additional key levels at a glance:

USD/JPY

Overview:
       Last Price:  113.12
       Daily change:  75  pips
       Daily change:  0.667%
       Daily Open:  112.37
Trends:
       Daily SMA20:  112.72
       Daily SMA50:  112.17
       Daily SMA100:  111.6
       Daily SMA200:  109.87
Levels:
       Daily High:  112.58
       Daily Low:  111.78
       Weekly High:  112.9
       Weekly Low:  111.38
       Monthly High:  113.71
       Monthly Low:  110.38
       Daily Fibonacci 38.2%:  112.27
       Daily Fibonacci 61.8%:  112.08
       Daily Pivot Point S1:  111.9
       Daily Pivot Point S2:  111.44
       Daily Pivot Point S3:  111.1
       Daily Pivot Point R1:  112.71
       Daily Pivot Point R2:  113.05
       Daily Pivot Point R3:  113.51