USD/JPY Technical Analysis: Bulls struggling to defend 200-hour SMA support
• The pair's intraday uptick faced rejection near 50-hour SMA, with bears now eyeing a follow-through weakness below 200-hour SMA amid notable USD supply.
• A decisive breakthrough 100-hour SMA and a subsequent weakness below the 113.30-25 horizontal support was seen as a key trigger for intraday bearish traders.
• Technical indicators on 4-hourly/daily charts have been gaining negative momentum but are already pointing to slightly oversold conditions on the 1-hourly chart.
• Hence, it would be prudent to wait for a minor bounce towards the 113.30-25 support turned resistance before initiating any fresh near-term bearish positions.
USD/JPY 1-hourly chart
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USD/JPY
Overview:
Today Last Price: 113.13
Today Daily change: -26 pips
Today Daily change %: -0.229%
Today Daily Open: 113.39
Trends:
Previous Daily SMA20: 113.2
Previous Daily SMA50: 113
Previous Daily SMA100: 112.37
Previous Daily SMA200: 110.76
Levels:
Previous Daily High: 113.7
Previous Daily Low: 113.2
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%: 113.39
Previous Daily Fibonacci 61.8%: 113.51
Previous Daily Pivot Point S1: 113.16
Previous Daily Pivot Point S2: 112.94
Previous Daily Pivot Point S3: 112.67
Previous Daily Pivot Point R1: 113.65
Previous Daily Pivot Point R2: 113.92
Previous Daily Pivot Point R3: 114.14