USD/JPY Technical Analysis: Regaining ground at the 113.00 level, but key barriers remain

USD/JPY faces downside pressure heading into Wednesday's early session, with moves into the upside getting pressured by downside resistance from the 113.00 handle.

Joshua Gibson FXStreet

USD/JPY, 5-Minute

The Dollar-Yen pairing has accelerated declines in the last two weeks, slipping into lows at 112.50 after Tuesday's freefall from a trendline at 113.65, and Wednesday's early attempts at a bullish correction are facing pressure from the 50-period moving average nearby at 112.95.

USD/JPY, 30-Minute

Looking further back, USD/JPY is constrained in a tightening cycle pattern, pushing sideways as buyers on both ends await further impetus before knocking the pair into a new trend, and traders will likely be waiting for a break-and-retest of either barrier before picking a dedicated direction.

USD/JPY, 4-Hour

USD/JPY

Overview:
    Today Last Price: 112.95
    Today Daily change: 11 pips
    Today Daily change %: 0.0975%
    Today Daily Open: 112.84
Trends:
    Previous Daily SMA20: 113.37
    Previous Daily SMA50: 113.08
    Previous Daily SMA100: 112.25
    Previous Daily SMA200: 110.49
Levels:
    Previous Daily High: 113.67
    Previous Daily Low: 112.56
    Previous Weekly High: 114.04
    Previous Weekly Low: 112.88
    Previous Monthly High: 114.25
    Previous Monthly Low: 112.3
    Previous Daily Fibonacci 38.2%: 112.99
    Previous Daily Fibonacci 61.8%: 113.25
    Previous Daily Pivot Point S1: 112.38
    Previous Daily Pivot Point S2: 111.92
    Previous Daily Pivot Point S3: 111.28
    Previous Daily Pivot Point R1: 113.48
    Previous Daily Pivot Point R2: 114.13
    Previous Daily Pivot Point R3: 114.58

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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