USD/JPY Technical Analysis: Bulls gearing up for a move towards 114.00 handle
|• This week's bullish resilience near the very important 100-day SMA support constituted towards the formation of a bullish double-bottom pattern on short-term charts.
• Adding to this, the pair formed a firm base near the 113.00 handle (200-hour EMA) in the previous session and further reinforced the near-term bullish formation.
1-hourly chart
• Meanwhile, positive technical indicators on hourly/daily charts add credence to the constructive set-up and support prospects for an extension of the up-move.
• Hence, any subsequent buying interest has the potential to lift the pair further towards testing a short-term descending trend-line resistance, just below the 114.00 handle.
USD/JPY
Overview:
Today Last Price: 113.47
Today Daily change: 10 pips
Today Daily change %: 0.0882%
Today Daily Open: 113.37
Trends:
Previous Daily SMA20: 113.18
Previous Daily SMA50: 113.04
Previous Daily SMA100: 112.3
Previous Daily SMA200: 110.65
Levels:
Previous Daily High: 113.48
Previous Daily Low: 112.98
Previous Weekly High: 113.83
Previous Weekly Low: 112.23
Previous Monthly High: 114.25
Previous Monthly Low: 112.3
Previous Daily Fibonacci 38.2%: 113.28
Previous Daily Fibonacci 61.8%: 113.17
Previous Daily Pivot Point S1: 113.07
Previous Daily Pivot Point S2: 112.77
Previous Daily Pivot Point S3: 112.57
Previous Daily Pivot Point R1: 113.57
Previous Daily Pivot Point R2: 113.77
Previous Daily Pivot Point R3: 114.07
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