USD/JPY Price Analysis: Trims gains, bulls losing momentum


  • USD/JPY's intraday charts are reporting bullish exhaustion. 
  • The pair may extend the ongoing pullback to 110.00.

USD/JPY is currently trading at 110.20, having clocked a seven-month high of 110.29 two hours ago. 

The ongoing pullback could be extended to 110.00 or lower as key indicators are reporting weakening of bullish momentum. 

For instance, the hourly chart MACD histogram has charted bearish divergence or lower highs above the zero line, contradicting higher highs on the price chart. 

On similar lines, the 4-hour chart relative strength index is diverging in favor of the bears. 

Hourly chart

Trend: Bearish

Technical levels

USD/JPY

Overview
Today last price 110.2
Today Daily Change 0.06
Today Daily Change % 0.05
Today daily open 110.14
 
Trends
Daily SMA20 109.22
Daily SMA50 109.07
Daily SMA100 108.5
Daily SMA200 108.57
 
Levels
Previous Daily High 110.18
Previous Daily Low 109.85
Previous Weekly High 109.69
Previous Weekly Low 107.65
Previous Monthly High 109.8
Previous Monthly Low 108.43
Daily Fibonacci 38.2% 110.05
Daily Fibonacci 61.8% 109.97
Daily Pivot Point S1 109.93
Daily Pivot Point S2 109.72
Daily Pivot Point S3 109.59
Daily Pivot Point R1 110.27
Daily Pivot Point R2 110.39
Daily Pivot Point R3 110.6

 

 

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