USD/JPY technical Analysis: Breaks below an ascending trend-line despite risk-on mood
• Despite improving risk-sentiment, the pair struggled to build on its recovery move from flash crash lows and faced rejection near 100-hour SMA.
• Sustained breakthrough ascending trend-line support, held since the last Asian session on Thursday and was seen as a key trigger for bearish traders.
• Technical indicators on the 1-hourly chart have already started gaining negative momentum, further reinforcing the intraday bearish breakdown.
• A follow-through weakness below 50-hour SMA might turn the pair vulnerable to resume its prior depreciating slide and retest support near mid-107.00.
USD/JPY 1-hourly chart
Today Last Price: 108.16
Today Daily change: -30 pips
Today Daily change %: -0.277%
Today Daily Open: 108.46
Previous Daily SMA20: 111.24
Previous Daily SMA50: 112.44
Previous Daily SMA100: 112.28
Previous Daily SMA200: 111.1
Previous Daily High: 108.6
Previous Daily Low: 107.47
Previous Weekly High: 110.48
Previous Weekly Low: 104.75
Previous Monthly High: 113.83
Previous Monthly Low: 109.55
Previous Daily Fibonacci 38.2%: 108.16
Previous Daily Fibonacci 61.8%: 107.9
Previous Daily Pivot Point S1: 107.75
Previous Daily Pivot Point S2: 107.04
Previous Daily Pivot Point S3: 106.62
Previous Daily Pivot Point R1: 108.88
Previous Daily Pivot Point R2: 109.3
Previous Daily Pivot Point R3: 110.01