- USD/JPY trades around 149.00 followed by 23.6% Fibonacci retracement.
- Technical indicators suggest a bearish sentiment to navigate the support region around 146.50.
- 150.00 psychological level could be the resistance, followed by the nine-day EMA.
USD/JPY continues to trade near six-week lows, extending losses near 148.90 during the early European session on Monday. The 148.50 major level emerges as the immediate support lined up with the 23.6% Fibonacci retracement at 148.49.
The 14-day Relative Strength Index (RSI) below the 50 level signals bearish sentiment, which could inspire the bears of the USD/JPY pair to navigate the support region around 146.50 major level, followed by the 38.2% Fibonacci retracement at 146.37.
Additionally, the Moving Average Convergence Divergence (MACD) line is positioned above the centerline, showing divergence below the signal line, it typically suggests a bearish momentum in the market. This configuration indicates that the short-term moving average (MACD line) is moving further away from the long-term moving average (signal line) in the downward direction.
On the upside, the psychological level at 150.00 could be the key barrier, aligning with the nine-day Exponential Moving Average (EMA) at 150.34. A breakthrough above the latter could support the USD/JPY pair to revisit the previous week’s high at 151.90.
USD/JPY: Daily Chart
USD/JPY: Additional levels to watch
|Today last price||148.96|
|Today Daily Change||-0.73|
|Today Daily Change %||-0.49|
|Today daily open||149.69|
|Previous Daily High||150.78|
|Previous Daily Low||149.2|
|Previous Weekly High||151.91|
|Previous Weekly Low||149.2|
|Previous Monthly High||151.72|
|Previous Monthly Low||147.32|
|Daily Fibonacci 38.2%||149.8|
|Daily Fibonacci 61.8%||150.17|
|Daily Pivot Point S1||149|
|Daily Pivot Point S2||148.31|
|Daily Pivot Point S3||147.42|
|Daily Pivot Point R1||150.58|
|Daily Pivot Point R2||151.47|
|Daily Pivot Point R3||152.16|
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