USD/JPY Technical Analysis: Flirting with a short-term ascending trend-line support
|• A fresh wave of global risk-aversion trade underpinned the Japanese Yen's safe-haven demand and prompted some aggressive selling around the major on Tuesday.
• The pair tumbled over 75-pips from the vicinity of 1-1/2 week tops and has now moved on the verge of decisively breaking below a short-term ascending trend-line support.
• Technical indicators on the 1-hourly chart have slipped into oversold territory, albeit continue to hold in the neutral zone on the daily chart and thus, warrant some caution.
• Hence, it would be prudent to wait for a sustained weakness below the mentioned support before traders start positioning for an extension of the intraday bearish trend.
USD/JPY 1-hourly chart
USD/JPY
Overview:
Last Price: 112.17
Daily change: -66 pips
Daily change: -0.585%
Daily Open: 112.83
Trends:
Daily SMA20: 112.98
Daily SMA50: 112.01
Daily SMA100: 111.48
Daily SMA200: 109.84
Levels:
Daily High: 112.9
Daily Low: 112.34
Weekly High: 112.75
Weekly Low: 111.62
Monthly High: 113.71
Monthly Low: 110.38
Daily Fibonacci 38.2%: 112.69
Daily Fibonacci 61.8%: 112.56
Daily Pivot Point S1: 112.48
Daily Pivot Point S2: 112.14
Daily Pivot Point S3: 111.93
Daily Pivot Point R1: 113.04
Daily Pivot Point R2: 113.25
Daily Pivot Point R3: 113.59
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