USD/JPY Technical Analysis: Pushes through 100-hour SMA and retakes 113.00 mark

• The pair once again managed to find decent support near 100-day SMA, forming a bullish reversal double-bottom pattern on short-term charts.

• A convincing breakthrough 100-hour SMA was further seen as a key trigger for bullish traders and behind a sudden pickup over the past hour or so.

• Technical indicators on the 1-hourly chart have been gaining traction and support prospects for an extension of the strong intraday positive momentum.

• Meanwhile, oscillators on 4-hourly/daily chart are yet to catch up with the recovery move and warrant some caution before initiating fresh bullish positions.

• Hence, it would be prudent to wait for a sustained move beyond the 113.15-20 supply zone before confirming that the pair might have already bottomed out.

USD/JPY 1-hourly chart

USD/JPY

Overview:
    Today Last Price: 112.98
    Today Daily change: 35 pips
    Today Daily change %: 0.311%
    Today Daily Open: 112.63
Trends:
    Previous Daily SMA20: 113.23
    Previous Daily SMA50: 113.06
    Previous Daily SMA100: 112.26
    Previous Daily SMA200: 110.58
Levels:
    Previous Daily High: 112.93
    Previous Daily Low: 112.55
    Previous Weekly High: 113.83
    Previous Weekly Low: 112.23
    Previous Monthly High: 114.25
    Previous Monthly Low: 112.3
    Previous Daily Fibonacci 38.2%: 112.7
    Previous Daily Fibonacci 61.8%: 112.79
    Previous Daily Pivot Point S1: 112.48
    Previous Daily Pivot Point S2: 112.33
    Previous Daily Pivot Point S3: 112.1
    Previous Daily Pivot Point R1: 112.86
    Previous Daily Pivot Point R2: 113.08
    Previous Daily Pivot Point R3: 113.24

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