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USD/JPY Technical Analysis: Oscillates in a range between 50/100-hour SMAs

   •  The pair's bearish breakthrough an ascending trend-line lacked any follow-through, rather managed to find some support near 50-hour SMA, just ahead of the 108.00 handle.

   •  The rebound, however, remained capped at 100-hour SMA amid persistent USD selling bias and weaker equities, which continued underpinning the JPY's safe-haven demand.

   •  Neutral technical indicators on the 1-hourly chart haven't been supportive of any firm intraday direction, while bearish oscillators on the 4-hourly chart point to further downfall.

   •  Meanwhile, slightly oversold conditions on the daily chart point to an extension of the sideway consolidative price-action or further recovery from Thursday's flash crash low. 

   •  Hence, it would be prudent to wait for a convincing break, either beyond 100-hour SMA or 50-hour SMA, before traders start positioning for any meaningful intraday momentum.

USD/JPY 1-hourly chart

USD/JPY

Overview:
    Today Last Price: 108.31
    Today Daily change: -15 pips
    Today Daily change %: -0.138%
    Today Daily Open: 108.46
Trends:
    Previous Daily SMA20: 111.24
    Previous Daily SMA50: 112.44
    Previous Daily SMA100: 112.28
    Previous Daily SMA200: 111.1
Levels:
    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

 

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