• USD/JPY drops the most in a week following bearish candlestick, refreshes intraday low.
  • 50-DMA offers immediate support ahead of an ascending trend line from October.
  • Bearish MACD, pullback from 20-DMA also favors sellers.

USD/JPY stands on the slippery grounds to refresh intraday low around 114.35, down 0.25% on a day heading into Wednesday’s European session.

In doing so, the yen pair justifies the previous day’s bearish candlestick formation, as well as a pullback from 20-DMA, amid a downbeat MACD histogram.

It’s worth noting, however, that the 50-DMA level near 114.30 restricts the pair’s immediate declines ahead of the key support line from near 114.00.

During the quote’s weakness past 114.00, the 100-DMA level of 113.15 and December’s low of 112.56 will be in focus.

Alternatively, a 20-DMA level of 115.00 limits the quote’s immediate upside ahead of November’s high near 115.55 and the monthly peak of 116.35.

Overall, USD/JPY buyers are at the test near the key support line.

USD/JPY: Daily chart

Trend: Further weakness expected

Additional important levels

Today last price 114.38
Today Daily Change -0.24
Today Daily Change % -0.21%
Today daily open 114.62
Daily SMA20 114.97
Daily SMA50 114.32
Daily SMA100 113.11
Daily SMA200 111.39
Previous Daily High 115.06
Previous Daily Low 114.45
Previous Weekly High 115.85
Previous Weekly Low 113.48
Previous Monthly High 115.21
Previous Monthly Low 112.56
Daily Fibonacci 38.2% 114.83
Daily Fibonacci 61.8% 114.68
Daily Pivot Point S1 114.36
Daily Pivot Point S2 114.1
Daily Pivot Point S3 113.75
Daily Pivot Point R1 114.97
Daily Pivot Point R2 115.32
Daily Pivot Point R3 115.59



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