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USD/JPY Technical Analysis

FOREX_USDJPY-Technical-Analysis-2410_FXPIG

  •  The pair struggled to build on overnight goodish rebound and was now seen retracing from an important horizontal resistance, near the 112.65 region.

  •  The pair now seems to be in the process of forming a bearish Head & Shoulders chart pattern on the 1-hourly chart, with neck-line support near the 111.95 region.

  •  Meanwhile, neutral technical indicators on hourly/daily charts have failed to support any directional bias, though seemed to have lost positive momentum.

 Hence, it would be prudent to wait for a convincing break through the neckline support before    •confirming the bearish set-up and positioning for any further near-term downfall.

USD/JPY

Overview:
   Last Price: 112.5
   Daily change: 6.0 pips
   Daily change: 0.0534%
   Daily Open: 112.44
Trends:
   Daily SMA20: 112.96
   Daily SMA50: 112.04
   Daily SMA100: 111.5
   Daily SMA200: 109.84
Levels:
   Daily High: 112.86
   Daily Low: 111.95
   Weekly High: 112.75
   Weekly Low: 111.62
   Monthly High: 113.71
   Monthly Low: 110.38
   Daily Fibonacci 38.2%: 112.3
   Daily Fibonacci 61.8%: 112.51
   Daily Pivot Point S1: 111.98
   Daily Pivot Point S2: 111.51
   Daily Pivot Point S3: 111.07
   Daily Pivot Point R1: 112.88
   Daily Pivot Point R2: 113.33
   Daily Pivot Point R3: 113.79

Source: fxstreet.com

  •  The pair struggled to build on overnight goodish rebound and was now seen retracing from an important horizontal resistance, near the 112.65 region.

  •  The pair now seems to be in the process of forming a bearish Head & Shoulders chart pattern on the 1-hourly chart, with neck-line support near the 111.95 region.

  •  Meanwhile, neutral technical indicators on hourly/daily charts have failed to support any directional bias, though seemed to have lost positive momentum.

 Hence, it would be prudent to wait for a convincing break through the neckline support before    •confirming the bearish set-up and positioning for any further near-term downfall.

USD/JPY

Overview:
   Last Price: 112.5
   Daily change: 6.0 pips
   Daily change: 0.0534%
   Daily Open: 112.44
Trends:
   Daily SMA20: 112.96
   Daily SMA50: 112.04
   Daily SMA100: 111.5
   Daily SMA200: 109.84
Levels:
   Daily High: 112.86
   Daily Low: 111.95
   Weekly High: 112.75
   Weekly Low: 111.62
   Monthly High: 113.71
   Monthly Low: 110.38
   Daily Fibonacci 38.2%: 112.3
   Daily Fibonacci 61.8%: 112.51
   Daily Pivot Point S1: 111.98
   Daily Pivot Point S2: 111.51
   Daily Pivot Point S3: 111.07
   Daily Pivot Point R1: 112.88
   Daily Pivot Point R2: 113.33
   Daily Pivot Point R3: 113.79

Source: fxstreet.com

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