#USDJPY @ 136.414 US Dollar gains momentum across the board, DXY turns positive. (Pivot Orderbook analysis)
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- US Dollar gains momentum across the board, DXY turns positive.
- Economic data from the US shows numbers above market consensus.
- USD/JPY with a bullish outlook in the very short-term.
The pair currently trades last at 136.414.
The previous day high was 135.98 while the previous day low was 133.62. The daily 38.2% Fib levels comes at 134.52, expected to provide support. Similarly, the daily 61.8% fib level is at 135.08, expected to provide support.
The USD/JPY broke above 135.50 and jumped above 136.00 extending the recovery from multi-month lows. The US Dollar is rising across the board supported by better-than-expected economic data and higher Treasury bond yields.
US economic data surpassed expectations on Monday, helping the US Dollar. The S&P Global Composite PMI was revised from the 46.3 preliminary reading to 46.4 in November. Factory Orders in October rose 1% surpassing expectations of a 0.7% increase. The ISM Service PMI in November rose from 54.4 to 56.5. The Price Paid Index fell from 70.7 to 70.
The US Dollar Index (DXY) is up 0.40% after hitting earlier on Monday at 104.11, the lowest level since June. The more positive tone around the Greenback helped the USD/JPY move further to the upside.
The pair broke above 135.50 and climbed to 136.40, reaching the highest level since Thursday. It remains near the high, with the bullish momentum intact. The next resistance area is seen around 136.60 followed by 137.00.
The 136.00 level has become the immediate support followed by 135.50/55. The recovery of the Dollar is being supported by indicators in the 4-hour chart with the RSI moving north, breaking the 30 level and Momentum turning also to the upside. According to indicators, more gains seem likely before a new leg lower.
Technical Levels: Supports and Resistances
USDJPY currently trading at 136.17 at the time of writing. Pair opened at 134.31 and is trading with a change of 1.38 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 136.17 |
| 1 | Today Daily Change | 1.86 |
| 2 | Today Daily Change % | 1.38 |
| 3 | Today daily open | 134.31 |
The pair is trading below its 20 Daily moving average @ 140.16, below its 50 Daily moving average @ 144.14 , below its 100 Daily moving average @ 141.14 and above its 200 Daily moving average @ 134.51
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 140.16 |
| 1 | Daily SMA50 | 144.14 |
| 2 | Daily SMA100 | 141.14 |
| 3 | Daily SMA200 | 134.51 |
The previous day high was 135.98 while the previous day low was 133.62. The daily 38.2% Fib levels comes at 134.52, expected to provide support. Similarly, the daily 61.8% fib level is at 135.08, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 133.29, 132.28, 130.93
- Pivot resistance is noted at 135.65, 137.0, 138.01
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 135.98 |
| Previous Daily Low | 133.62 |
| Previous Weekly High | 139.90 |
| Previous Weekly Low | 133.62 |
| Previous Monthly High | 148.82 |
| Previous Monthly Low | 137.50 |
| Daily Fibonacci 38.2% | 134.52 |
| Daily Fibonacci 61.8% | 135.08 |
| Daily Pivot Point S1 | 133.29 |
| Daily Pivot Point S2 | 132.28 |
| Daily Pivot Point S3 | 130.93 |
| Daily Pivot Point R1 | 135.65 |
| Daily Pivot Point R2 | 137.00 |
| Daily Pivot Point R3 | 138.01 |
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