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.
• 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