#USDJPY @ 135.602 picks up bids to snap two-day downtrend., @nehcap view: Limited upside expected (Pivot Orderbook analysis)
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- USD/JPY picks up bids to snap two-day downtrend.
- Multiple levels marked since December 01 restrict immediate upside.
- Receding bearish bias of MACD signals further recovery.
- 100-SMA acts as the last defense USD/JPY bears.
The pair currently trades last at 135.602.
The previous day high was 135.99 while the previous day low was 134.52. The daily 38.2% Fib levels comes at 135.08, expected to provide support. Similarly, the daily 61.8% fib level is at 135.43, expected to provide support.
USD/JPY clings to mild gains during the first daily positive in three around 135.80 heading into Thursday’s European session. In doing so, the yen pair portrays recovery from a two-week-old ascending trend line while poking a resistance area comprising multiple levels marked since early December.
Given the recently easing bearish bias of the MACD, coupled with the quote’s rebound from the short-term key support line, the USD/JPY may witness further advances.
However, a clear upside break of the 135.80-136.00 area becomes necessary to convince the pair buyers. Even so, the 100-SMA level near 137.15 could challenge the Yen pair recovery.
In a case where the USD/JPY bulls manage to keep the reins past 137.15, a run-up towards the late November swing high near 139.90 and then to the 140.00 round figure can’t be ruled out.
On the contrary, pullback moves need to break the aforementioned support line, near 134.60 at the latest, to recall the USD/JPY bears. Following that, a fall toward the monthly low near 133.60 appears imminent.
Should the USD/JPY pair remains bearish past 133.60, the south-run could aim for the August month’s low near 130.40.
Trend: Limited upside expected
Technical Levels: Supports and Resistances
USDJPY currently trading at 135.72 at the time of writing. Pair opened at 135.26 and is trading with a change of 0.34% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 135.72 |
| 1 | Today Daily Change | 0.46 |
| 2 | Today Daily Change % | 0.34% |
| 3 | Today daily open | 135.26 |
The pair is trading below its 20 Daily moving average @ 137.93, below its 50 Daily moving average @ 142.86 , below its 100 Daily moving average @ 141.08 and above its 200 Daily moving average @ 135.36
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 137.93 |
| 1 | Daily SMA50 | 142.86 |
| 2 | Daily SMA100 | 141.08 |
| 3 | Daily SMA200 | 135.36 |
The previous day high was 135.99 while the previous day low was 134.52. The daily 38.2% Fib levels comes at 135.08, expected to provide support. Similarly, the daily 61.8% fib level is at 135.43, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 134.53, 133.79, 133.06
- Pivot resistance is noted at 136.0, 136.73, 137.47
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 135.99 |
| Previous Daily Low | 134.52 |
| Previous Weekly High | 137.86 |
| Previous Weekly Low | 134.13 |
| Previous Monthly High | 148.82 |
| Previous Monthly Low | 137.50 |
| Daily Fibonacci 38.2% | 135.08 |
| Daily Fibonacci 61.8% | 135.43 |
| Daily Pivot Point S1 | 134.53 |
| Daily Pivot Point S2 | 133.79 |
| Daily Pivot Point S3 | 133.06 |
| Daily Pivot Point R1 | 136.00 |
| Daily Pivot Point R2 | 136.73 |
| Daily Pivot Point R3 | 137.47 |
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