#USDJPY @ 129.819 remained pressured as the 50-DMA crossed beneath the 200-DMA. (Pivot Orderbook analysis)

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• USD/JPY remained pressured as the 50-DMA crossed beneath the 200-DMA.
• Bears stepped in and reclaimed 130.00, as they eye 129.00.

The pair currently trades last at 129.819.

The previous day high was 131.12 while the previous day low was 129.73. The daily 38.2% Fib levels comes at 130.26, expected to provide resistance. Similarly, the daily 61.8% fib level is at 130.58, expected to provide resistance.

USD/JPY fell as the North American session progressed and tumbled below the 130.00 figure, as buyers failed to crack the 20-day Exponential Moving Average (EMA) at 130.74. Factors like a soft US Dollar (USD) and falling US Treasury bond yields are two fundamental reasons for renewed Japanese Yen (JPY) strength. At the time of writing, the USD/JPY is trading at 129.77.

Tuesday’s session was characterized by the USD/JPY reaching a weekly high at 131.11, slightly above the 20-day EMA, but dropped to 130.10. Today, the USD/JPY hit a daily high of 130.58 but extended its losses, while the 50-day Exponential Moving Average (EMA) crossed beneath the 200-day EMA, meaning a death cross emerged in the daily, suggesting that further downside is expected.

Oscillators like the Relative Strength Index (RSI) and the Rate of Change (RoC) aim downwards, supporting lower prices.

Therefore, the USD/JPY first support would be the day’s low of 129.26. Break below will expose the 129.00 psychological level, followed by the January 20 swing low at 128.34 and the YTD low of 127.21. As an alternate scenario, if the USD/JPY reclaims 130.00, the pair could challenge the 20-day EMA.

Technical Levels: Supports and Resistances

USDJPY currently trading at 129.83 at the time of writing. Pair opened at 130.16 and is trading with a change of -0.25 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 130.84, 50 SMA 134.44, 100 SMA @ 139.87 and 200 SMA @ 136.74.

The previous day high was 131.12 while the previous day low was 129.73. The daily 38.2% Fib levels comes at 130.26, expected to provide resistance. Similarly, the daily 61.8% fib level is at 130.58, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 129.55, 128.94, 128.16
• Pivot resistance is noted at 130.94, 131.72, 132.33

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