#USDJPY @ 144.393 marches firmly above 144.30, up by 0.16%. (Pivot Orderbook analysis)

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• USD/JPY marches firmly above 144.30, up by 0.16%.
• During the week, the USD/JPY has been unable to break the BoJ’s line on the sand at 145.00.
• The USD/JPY one-hour chart depicts the formation of a triple top, targeting a fall towards 143.00.

The pair currently trades last at 144.393.

The previous day high was 144.87 while the previous day low was 143.91. The daily 38.2% Fib levels comes at 144.28, expected to provide support. Similarly, the daily 61.8% fib level is at 144.5, expected to provide resistance.

The USD/JPY is recouping on Thursday, following 0.47% Wednesday losses, courtesy of falling US Treasury bond yields, which weighed on the greenback. However, fundamental factors like US central bank officials reiterating the need for higher rates to tame inflation bolstered the USD/JPY. Therefore, the USD/JPY st trading at 144.37, above its opening price by 0.18%.

The USD/JPY has been unable to break above/below the September 22 Bank of Japan intervention in the Forex markets, with price action staying in the 140.34-145.90 range. Even though the weekly high meandered ten pips shy of the 145.00 figure, traders remain nervous about another BoJ incursion in the FX space. Worth noting that the USD/JPY is trading sideways while the Relative Strength Index (RSI) keeps heading south. Therefore, the likelihood of a test of the 20-day EMA ar 143.27 is on the cards.

The one-hour chart portrays the USD/JPY as neutral-to-downward biased. At the time of writing, the USD/JPY is testing the 100-EMA, which, once broken, could pave the way towards 143.90, the September 28 daily low. Once cleared, the next support would be the 200-EMA at 143.85, followed by the S1 daily pivot at 143.72, ahead of the triple top target at 143.00.

Contrarily, if the USD/JPY clears the 145.00 figure, expect a re-test of the YTD high at 145.90 unless Japanese authorities re-enter the markets.

Technical Levels: Supports and Resistances

USDJPY currently trading at 144.38 at the time of writing. Pair opened at 144.22 and is trading with a change of 0.11 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 143.07, 50 SMA 138.52, 100 SMA @ 135.88 and 200 SMA @ 127.67.

The previous day high was 144.87 while the previous day low was 143.91. The daily 38.2% Fib levels comes at 144.28, expected to provide support. Similarly, the daily 61.8% fib level is at 144.5, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 143.79, 143.37, 142.83
• Pivot resistance is noted at 144.76, 145.3, 145.72

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