USD/JPY Technical Analysis: Continues to find decent support at 100-day SMA
• The pair once again managed to find decent support near 100-day SMA and has now recovered early lost ground back closer to over one-month lows, set last Thursday.
USD/JPY daily chart
• The pair now seems to have formed a bullish reversal - double bottom pattern on the 1-hourly chart, though bulls might face difficulty in making it through 100-hour SMA.
• Mixed technical indicators on hourly/daily charts haven't been supportive of a firm near-term direction and might hold back traders from initiating any aggressive bets.
• Hence, it would be prudent to wait for a convincing breakthrough the 100-hour SMA hurdle or 100-day SMA support before positioning for the next leg of a directional move.
Today Last Price: 112.71
Today Daily change: 8.0 pips
Today Daily change %: 0.0710%
Today Daily Open: 112.63
Previous Daily SMA20: 113.23
Previous Daily SMA50: 113.06
Previous Daily SMA100: 112.26
Previous Daily SMA200: 110.58
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