USD/JPY Technical Analysis: Ascending triangle breakout & S&P 500 futures favor test of 4H 100EMA
|The USD/JPY pair could test the key hurdle at 109.64 as the bullish view put forward by the ascending triangle breakout is backed by the uptick in the S&P 500 futures.
4-hour chart
The previous 4-hour candle closed at 109.36, confirming an ascending triangle breakout, as seen in the above chart. That pattern represents a short-term bearish-to-bullish trend change.
Further, the pair has found acceptance above the 50-candle EMA.
What's more, the S&P 500 futures are reporting a 0.30 percent gain at press time. Put simply, stock markets are likely to trade on the offensive while heading into the weekend. As a result, the anti-risk JPY will likely remain offered.
It is worth noting that the long-term outlook remains bearish while the pair is held below the former support-turned-resistance of the 100-day MA, currently located above 112.00.
Trend: Bullish
USD/JPY
Overview:
Today Last Price: 109.35
Today Daily change: 10 pips
Today Daily change %: 0.101%
Today Daily Open: 109.24
Trends:
Daily SMA20: 109.33
Daily SMA50: 111.62
Daily SMA100: 112.07
Daily SMA200: 111.18
Levels:
Previous Daily High: 109.41
Previous Daily Low: 108.68
Previous Weekly High: 109.09
Previous Weekly Low: 107.77
Previous Monthly High: 113.83
Previous Monthly Low: 109.55
Daily Fibonacci 38.2%: 109.13
Daily Fibonacci 61.8%: 108.96
Daily Pivot Point S1: 108.81
Daily Pivot Point S2: 108.38
Daily Pivot Point S3: 108.08
Daily Pivot Point R1: 109.54
Daily Pivot Point R2: 109.84
Daily Pivot Point R3: 110.27
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