USD/JPY Technical Analysis: Risk sentiment remains on the balance and USD/JPY stalls ahead of 110.,00

As holiday trade kicks in USD/JPY stalls ahead of 110.00.
The pair has been grinding higher as stocks make new highs.

Rajan Dhall, MSTA FX Daily

USD/JPY Daily Chart

USD/JPY has been grinding higher for a while now but it seems momentum is wearing thin.

There is now an ascending wedge formation on the daily chart below.

The price has also taken out both moving averages and they could act as support.

110.00 is the main resistance point now as a break would make a new higher high wave.

The RSI is also in positive territory but is starting to turn lower.

Additional Levels

USD/JPY

Overview
Today last price	109.49
Today Daily Change	-0.14
Today Daily Change %	-0.13
Today daily open	109.63

Trends
Daily SMA20	109.15
Daily SMA50	108.93
Daily SMA100	108.04
Daily SMA200	108.72

Levels
Previous Daily High	109.69
Previous Daily Low	109.32
Previous Weekly High	109.69
Previous Weekly Low	109.18
Previous Monthly High	109.67
Previous Monthly Low	107.89
Daily Fibonacci 38.2%	109.54
Daily Fibonacci 61.8%	109.46
Daily Pivot Point S1	109.4
Daily Pivot Point S2	109.17
Daily Pivot Point S3	109.03
Daily Pivot Point R1	109.77
Daily Pivot Point R2	109.91
Daily Pivot Point R3	110.14

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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