• The pair built on its steady intraday climb from 100-hour SMA support and touched a 1-1/2 week high in the last hour, inching back closer to the 113.00 handle.
• The pair has been trending higher alongside a bullish channel on the 1-hourly chart, with bulls now eyeing a sustained break through the channel resistance.
• Technical indicators on hourly/daily charts continue to hold in positive territory and thus, reinforce prospects for a near-term bullish breakout amid fading safe-haven demand.
• However, a convincing break below the 112.20 horizontal area might negate the near-term constructive outlook and turn the pair vulnerable to slide further.
USD/JPY 1-hourly chart
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USD/JPY
Overview:
Last Price: 112.87
Daily change: 32 pips
Daily change: 0.284%
Daily Open: 112.55
Trends:
Daily SMA20: 112.98
Daily SMA50: 111.97
Daily SMA100: 111.45
Daily SMA200: 109.83
Levels:
Daily High: 112.66
Daily Low: 112.14
Weekly High: 112.75
Weekly Low: 111.62
Monthly High: 113.71
Monthly Low: 110.38
Daily Fibonacci 38.2%: 112.46
Daily Fibonacci 61.8%: 112.34
Daily Pivot Point S1: 112.24
Daily Pivot Point S2: 111.92
Daily Pivot Point S3: 111.71
Daily Pivot Point R1: 112.76
Daily Pivot Point R2: 112.97
Daily Pivot Point R3: 113.29
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