#USDJPY @ 132.561 will remain subdued as traders await the US Federal Reserve. (Pivot Orderbook analysis)

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• USD/JPY will remain subdued as traders await the US Federal Reserve.
• Caution is warranted, given the fact that oscillators are giving mixed signals.
• USD/JPY Price Analysis: Short-term, a bearish continuation is likely; otherwise, buyers can reclaim 133.00.

The pair currently trades last at 132.561.

The previous day high was 132.63 while the previous day low was 131.04. The daily 38.2% Fib levels comes at 132.02, expected to provide support. Similarly, the daily 61.8% fib level is at 131.64, expected to provide support.

USD/JPY remains in choppy trading price action, with investors eyeing Wednesday’s US Federal Reserve decision. At the time of typing, the USD/JPY pair exchanges hands at around 132.50s after traveling from a daily low of 132.25 and hitting a high at 133.00.

The USD/JPY pair trades nearby the weekly highs, though it remains sideways. The Exponential Moving Averages (EMAs) in the daily chart turned flat, while oscillators like the Relative Strength Index (RSI) and the Rate of Change (RoC) give mixed signals.

In the short-term, the USD/JPY 4-hour chat paints the pair as downward biased, trading below the 50, 100, and 200-EMAs. Also, a three-week-old downslope resistance trendline would cap any rallies should the USD/JPY exceed the 133.50 area.

For a bearish continuation, the USD/JPY is backed by oscillators, like the RSI is about to turn bearish, while the RoC portrays buying pressure waning. That said, the USD/JPY first support would be the 20-EMA at 132.38. A breach of the latter could send the pair to the daily pivot at 132.04, followed by a drop to the S1 pivot point at 131.46. Once cleared, the USD/JPY would challenge the 131.00 figure.

In an alternate scenario, the USD/JPY first resistance would be the R1 pivot at 133.06. Once broken, the pair would immediately test the 50-EMA at 133.11, followed by the R2 daily pivot point at 133.64, ahead of the confluence of the 100/200-EMAs at 133.76/77.

Technical Levels: Supports and Resistances

USDJPY currently trading at 132.6 at the time of writing. Pair opened at 132.51 and is trading with a change of 0.07 % .

The pair is trading below its 20 Daily moving average @ 134.93, above its 50 Daily moving average @ 132.53 , below its 100 Daily moving average @ 134.95 and below its 200 Daily moving average @ 137.45

The previous day high was 132.63 while the previous day low was 131.04. The daily 38.2% Fib levels comes at 132.02, expected to provide support. Similarly, the daily 61.8% fib level is at 131.64, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 131.49, 130.47, 129.9
• Pivot resistance is noted at 133.08, 133.65, 134.67

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