Bulls regained control as bounce from Monday’s seven-week spike low extends into second straight day and probe above pivotal 110 barrier (psychological/Fibo 38.2% of 111.65/109.09 fall).

Strong downside rejection on Monday formed a bear-trap under 100DMA that supports recovery, underpinned by rising daily cloud.

Close above 110 pivot is needed to generate bullish signal and open way for further advance.

Mixed daily studies so far lack clearer direction signal, rising bearish momentum suggests that recovery is still fragile, with failure to clearly break 110 resistance zone to keep the downside vulnerable.

Res: 110.17; 110.36; 110.66; 111.04.
Sup: 110.00; 109.79; 109.48; 109.06.


Interested in USD/JPY technicals? Check out the key levels

    1. R3 110.72
    2. R2 110.34
    3. R1 110.09
  1. PP 109.71
    1. S1 109.46
    2. S2 109.08
    3. S3 108.84

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD bounces toward 1.18 as the dollar takes a breather

EUR/USD has bounced off the fresh three-month low of 1.1751 and trades closer to 1.1780 as the US dollar takes a breather from gains. Covid concerns and speculation ahead of Thursday's ECB decision weighed on the euro earlier. 


GBP/USD recovers amid an improving market mood

GBP/USD is trading above 1.36, benefiting from a better market mood. Earlier, the pound struggled with a fresh EU-UK clash over the Northern Irish protocol and high levels of covid cases. 


XAU/USD’s downside remains exposed towards $1790

Gold price targets levels sub-$1800 as USD remains in a win-win situation. US Senate vote on infrastructure bill eyed amid lack of relevant economic news.

Gold News

Four reasons why Cardano could soon experience 60% sell-off

Cardano price is setting up a top reversal head-and-shoulders pattern on a daily time frame. A breakout from this technical formation might result in a 60% sell-off. On-chain metrics show that ADA bulls are hanging by a thread.

Read more

Gamestop (GME): Three reasons to buy GME

Monday was a pretty good day for the original meme stock – GameStop. What was a pretty bad day for markets saw GME shares buck the trend with a gain of 2.6% to close up at $173.49. Any stock that closes up when the S&P was down 1.6% deserves a closer look.

Read more