Denis Joeli Fatiaki
Independent Analyst
USD/JPY: US dollar pulled back to its 500 EMA at 113.095
What is going on now with USD/JPY?
USD/JPY: The US dollar broke through 113.410 as indicated in the previous update but failed to continue at 113.520, and fell in the overnight session. The pair slipped below 113.410 support and fell to its 500 EMA at 113.095 in the 60 minutes price chart.
Our forecast
USD/JPY: The US dollar is currently trading at 113.214 in this morning's session. The US dollar is also holding on to its position above a critical support price point at its 500 EMA at 113.095 and need to maintain trding activities above this point to head back up to 113.410. The pair could fall to 112.925 and 112.800 if it fails at 113.095 support
Support/short target - 113.095, 112.925, and 112.800
Resistance/Long Target -113.230, 113.410, 113.520, and 113.675
Chart 1: The short-term view of the USD/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the USD/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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