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USD/JPY Technical Analysis: Trying to form a firm base near 113.00 handle, 200-hour EMA

   •  The pair continued showing some remarkable resilience near 100-day SMA and staged a solid rebound on the first day of a new trading week. 

USD/JPY daily chart

   •  The momentum seemed lacking any follow-through on Tuesday, albeit the pair now seemed trying to form a firm base near 200-hour EMA.

1-hourly chart

   •  Technical indicators on hourly charts have been gaining some positive traction but are yet to catch up with the positive move on the daily chart.

   •  Hence, it would be prudent to wait for a follow-through buying before positioning for further up-move towards a descending trend-line resistance.

   •  Meanwhile, a convincing break below the 100-day SMA support might negate any positive outlook and prompt some aggressive technical selling. 


    Today Last Price: 113.11
    Today Daily change: -17 pips
    Today Daily change %: -0.150%
    Today Daily Open: 113.28
    Previous Daily SMA20: 113.2
    Previous Daily SMA50: 113.04
    Previous Daily SMA100: 112.28
    Previous Daily SMA200: 110.61
    Previous Daily High: 113.3
    Previous Daily Low: 112.24
    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%: 112.89
    Previous Daily Fibonacci 61.8%: 112.64
    Previous Daily Pivot Point S1: 112.58
    Previous Daily Pivot Point S2: 111.88
    Previous Daily Pivot Point S3: 111.53
    Previous Daily Pivot Point R1: 113.64
    Previous Daily Pivot Point R2: 113.99
    Previous Daily Pivot Point R3: 114.69


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