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  • USD/JPY is trading in a bull trend above the 200-period simple moving average.
  • USD/JPY broke above the 113.00 figure which acted as strong resistance in the last weeks of trading. Now the next bulls objective is to break above 113.55 resistance. The RSI and MACD indicators are in positive territories while the Stochastic is in the overbought zone. All suggesting a decent bullish bias.  
  • On the flip side, a break below 113.00 on a daily closing basis might pause the current bullish momentum and lead to a retracement to 112.55 support.  

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:  113.37
       Daily change:  24  pips
       Daily change:  0.212%
       Daily Open:  113.13
Trends:
       Daily SMA20:  112.69
       Daily SMA50:  112.23
       Daily SMA100:  111.63
       Daily SMA200:  109.88
Levels:
       Daily High:  113.13
       Daily Low:  112.3
       Weekly High:  112.9
       Weekly Low:  111.38
       Monthly High:  113.71
       Monthly Low:  110.38
       Daily Fibonacci 38.2%:  112.81
       Daily Fibonacci 61.8%:  112.62
       Daily Pivot Point S1:  112.57
       Daily Pivot Point S2:  112.01
       Daily Pivot Point S3:  111.73
       Daily Pivot Point R1:  113.41
       Daily Pivot Point R2:  113.69
       Daily Pivot Point R3:  114.25