USD/JPY Technical Analysis: Remains vulnerable near 3-month lows, 200-DMA support holds the key

Haresh Menghani FXStreet

• The pair's attempted recovery, along side an ascending trend-channel, constituted towards the formation of a bearish continuation - flag chart pattern on intraday charts.

• Technical indicators on the 1-hourly chart have moved out of oversold territory and a breakthrough the pattern support sets the stage for a resumption of the bearish trend.

• However, oscillators on 4-hourly/daily charts remain in oversold zone and hence, any subsequent fall might continue to find decent support near the very important 200-day SMA.

USD/JPY 30-mins. chart

USD/JPY

Overview:
    Today Last Price: 111.08
    Today Daily change: -14 pips
    Today Daily change %: -0.126%
    Today Daily Open: 111.22
Trends:
    Previous Daily SMA20: 113.09
    Previous Daily SMA50: 112.97
    Previous Daily SMA100: 112.4
    Previous Daily SMA200: 110.88
Levels:
    Previous Daily High: 112.67
    Previous Daily Low: 110.81
    Previous Weekly High: 113.71
    Previous Weekly Low: 112.24
    Previous Monthly High: 114.25
    Previous Monthly Low: 112.3
    Previous Daily Fibonacci 38.2%: 111.52
    Previous Daily Fibonacci 61.8%: 111.96
    Previous Daily Pivot Point S1: 110.46
    Previous Daily Pivot Point S2: 109.71
    Previous Daily Pivot Point S3: 108.6
    Previous Daily Pivot Point R1: 112.32
    Previous Daily Pivot Point R2: 113.43
    Previous Daily Pivot Point R3: 114.18

Author

Haresh Menghani

FXStreet

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

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.