USD/JPY: US dollar bounced at 112.745 and attempted to push through 112.820

Denis Joeli Fatiaki Independent Analyst

USD/JPY: US dollar bounced at 112.745 and attempted to push through 112.820

What is going on now with USD/JPY:?

USD/JPY: The US dollar bounced at 112.745 support in yesterdays session and returned to its 500 EMA in the 60 minutes price chart. The pair had two attempts to continue at its 500 EMA but failed and pulled back during the European session.

Our forecast

USD/JPY: The US dollar slipped below its 500 EMA and had been drifting down for the past 4.5 hrs. The pair reached lows of 112.745 in this morning's trades before pushing prices up to 112.820. The US dollar needs to remain above 112.745 support to head back up to 112.910 and 113.015. The pair could continue down to 112.610 support if it fails at 112.745

Support/short target - 112.760, 112.615, 112.530, and 112.425

Resistance/Long Target -112.975, 113.180, 113.280, and 113.410

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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