USD/JPY Current price: 119.92
View Live Chart for the USD/JPY
Increasing bearish potential. The USD/JPY pair remains flat, but daily basis, it has posted a lower low at 116.62m whilst the upside remains capped by selling interest around the 120.00 figure. With the pair still within its recent range, the daily chart shows that the bearish potential increases as the price moves further below the 200 DMA, whilst the 100 DMA gains bearish strength above the other. Shorter term, the 1 hour chat shows that the price holds below its 100 and 200 SMAs, whilst the technical indicators have bounced and are about to cross their mid-lines towards the upside, on the recent dollar's momentum. In the 4 hours chart, the technical indicators also turned north, but remain below their mid-lines, whilst the price remains below its moving averages. The pair needs to break above 120.35, a Fibonacci resistance, to confirm additional intraday gains that anyway will hardly extend beyond 121.00
Support levels: 119.60 119.35 118.90
Resistance levels: 120.35 120.70 121.00
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