- 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|
|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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