The dollar stands at the front foot on Wednesday and eyes cracked pivot at 109.63 (Fibo 61.8% of 110.96/107.47), where bull-trap was formed on Monday that still weigh on the action.

On the other side, rising and thickening daily cloud continues to underpin, along with daily moving averages in bullish setup and rising positive momentum.

Bulls need sustained break through 109.63 barrier to signal continuation and expose targets at 110.00 (psychological) and 110.14 (Fibo 76.4% of 110.96/107.47).

Failure to clear 109.63 pivot would signal extended sideways mode, with near-term bias expected to remain with bulls while the price stays above 109 level.

Res: 109.10; 109.22; 109.63; 110.00
Sup: 109.20; 109.00; 108.88; 108.58


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

    1. R3 110.01
    2. R2 109.75
    3. R1 109.55
  1. PP 109.29
    1. S1 109.09
    2. S2 108.83
    3. S3 108.63

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 skyrockets to 1.2150 on poor US jobs figures

EUR/USD has hit a new multi-month peak above 1.2150 after the US reported an increase of only 266,000 jobs in April against nearly one million expected. The dollar is under immense pressure. 


GBP/USD soars toward 1.40 after disappointing Nonfarm Payrolls

GBP/USD has been extending its gains after the US Nonfarm Payrolls badly disappointed with an increase of only 266,000 jobs in April, nearing 1.40. Earlier, sterling benefited from the UK Conservative Party's gains in local elections. 


XAU/USD soars above $1,835 after weak Nonfarm Payrolls

Gold has leaped above $1,835 after the US reported an increase of only 266K jobs in April, far below expectations. Lower US yields support the precious metal.

Gold News

Judge reaffirms order SEC must produce documents on Bitcoin, Ether and XRP in Ripple case

Ripple's victory granted the firm access to the SEC's documents on the three leading cryptocurrencies. The regulatory agency recently denied the possession of these documents.

More Dogecoin News

S&P 500 and Nasdaq: Can the Fed pump anymore after weak jobs report

Well, that was an interesting jobs report. Not too many people were forecasting that one. Just in case you missed it NFP were forecast to come in around the 1 million jobs gained but instead the US only added 266k.

Read more