USD/JPY Technical Analysis: Bulls showing some resilience below mid-112.00s
|• The pair struggled to build on the FOMC minutes-led strong up-move to one-week tops and remained under some selling pressure through the mid-European session.
• The downtick, however, lacked any follow-through below a confluence region, comprising of 200-hour SMA and 23.6% Fibo. level of this week's up-move from the 111.65-60 region.
• Meanwhile, technical indicators on hourly/daily charts haven't been supportive of any firm intraday directional bias, though resilience below mid-112.00s supports prospects for additional gains.
• Moreover, the fact that the pair is holding comfortably above other two important intraday moving averages - 50 & 100-hour SMAs, further add credence to the near-term bullish outlook.
• Alternatively, a convincing break through the mentioned support and 50-hour SMA might negate the construction set-up and prompt some aggressive long-unwinding trade.
USD/JPY
Overview:
Last Price: 112.51
Daily change: -13 pips
Daily change: -0.115%
Daily Open: 112.64
Trends:
Daily SMA20: 113
Daily SMA50: 111.91
Daily SMA100: 111.38
Daily SMA200: 109.82
Levels:
Daily High: 112.69
Daily Low: 112
Weekly High: 113.96
Weekly Low: 111.83
Monthly High: 113.71
Monthly Low: 110.38
Daily Fibonacci 38.2%: 112.43
Daily Fibonacci 61.8%: 112.27
Daily Pivot Point S1: 112.2
Daily Pivot Point S2: 111.76
Daily Pivot Point S3: 111.52
Daily Pivot Point R1: 112.89
Daily Pivot Point R2: 113.13
Daily Pivot Point R3: 113.57
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