USD/JPY technical Analysis: Breaks below an ascending trend-line despite risk-on mood

Haresh Menghani FXStreet

• Despite improving risk-sentiment, the pair struggled to build on its recovery move from flash crash lows and faced rejection near 100-hour SMA.

• Sustained breakthrough ascending trend-line support, held since the last Asian session on Thursday and was seen as a key trigger for bearish traders.

• Technical indicators on the 1-hourly chart have already started gaining negative momentum, further reinforcing the intraday bearish breakdown.

• A follow-through weakness below 50-hour SMA might turn the pair vulnerable to resume its prior depreciating slide and retest support near mid-107.00.

USD/JPY 1-hourly chart

USD/JPY

Overview:
    Today Last Price: 108.16
    Today Daily change: -30 pips
    Today Daily change %: -0.277%
    Today Daily Open: 108.46
Trends:
    Previous Daily SMA20: 111.24
    Previous Daily SMA50: 112.44
    Previous Daily SMA100: 112.28
    Previous Daily SMA200: 111.1
Levels:
    Previous Daily High: 108.6
    Previous Daily Low: 107.47
    Previous Weekly High: 110.48
    Previous Weekly Low: 104.75
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Previous Daily Fibonacci 38.2%: 108.16
    Previous Daily Fibonacci 61.8%: 107.9
    Previous Daily Pivot Point S1: 107.75
    Previous Daily Pivot Point S2: 107.04
    Previous Daily Pivot Point S3: 106.62
    Previous Daily Pivot Point R1: 108.88
    Previous Daily Pivot Point R2: 109.3
    Previous Daily Pivot Point R3: 110.01

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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