#USDJPY @ 137.388 continues to portray the Yen’s weakness, following the BoJ’s decision to keep its loose monetary policy. (Pivot Orderbook analysis)
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- USD/JPY continues to portray the Yen’s weakness, following the BoJ’s decision to keep its loose monetary policy.
- USD/JPY Price Analysis: The uptrend remains intact, above 137.00, with bulls eyeing 138.00.
The pair currently trades last at 137.388.
The previous day high was 136.56 while the previous day low was 133.35. The daily 38.2% Fib levels comes at 135.34, expected to provide support. Similarly, the daily 61.8% fib level is at 134.58, expected to provide support.
The USD/JPY extends its gains in the New York session, rising above 137.00 on overall Japanese Yen (JPY) weakness after last week’s Bank of Japan’s (BoJ) decision to stick to its easy monetary policy. Therefore, the USD/JPY is trading at 137.42 after hitting a daily low of 136.11.
From a daily chart perspective, the USD/JPY continues to trend up after last Friday’s price action witnessed more than 1.70% gains. As the pair edged higher, it broke several resistance levels, like the 20 and 100-day EMAs, each at 134.14 and 134.12, respectively. Additionally, the USD/JPY left behind the 200-day EMA at 133.79, cheered by buyers, who remain hopeful of lifting prices towards the last year’s high at 151.94.
If USD/JPY reclaims the November 30 cycle high at 138.17, that would expose the November 21 daily high at 142.25. A breach of the latter will expose the 145.00 figure.
Conversely, if USD/JPY drops below 137.00, it could pave the way for a downward correction. Once cleared, the USD/JPY following support would be the April 28 high at 136.56. Downside risks will emerge below the latter, and it might extend towards the April 19 swing high at 135.13, followed by the 20-day EMAat 134.14, closely followed by the 100-day EMA.
Technical Levels: Supports and Resistances
USDJPY currently trading at 137.4 at the time of writing. Pair opened at 136.31 and is trading with a change of 0.8 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 137.40 |
| 1 | Today Daily Change | 1.09 |
| 2 | Today Daily Change % | 0.80 |
| 3 | Today daily open | 136.31 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 133.49, 50 SMA 133.83, 100 SMA @ 132.89 and 200 SMA @ 136.99.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 133.49 |
| 1 | Daily SMA50 | 133.83 |
| 2 | Daily SMA100 | 132.89 |
| 3 | Daily SMA200 | 136.99 |
The previous day high was 136.56 while the previous day low was 133.35. The daily 38.2% Fib levels comes at 135.34, expected to provide support. Similarly, the daily 61.8% fib level is at 134.58, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 134.25, 132.19, 131.04
- Pivot resistance is noted at 137.47, 138.62, 140.68
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 136.56 |
| Previous Daily Low | 133.35 |
| Previous Weekly High | 136.56 |
| Previous Weekly Low | 133.01 |
| Previous Monthly High | 136.56 |
| Previous Monthly Low | 130.63 |
| Daily Fibonacci 38.2% | 135.34 |
| Daily Fibonacci 61.8% | 134.58 |
| Daily Pivot Point S1 | 134.25 |
| Daily Pivot Point S2 | 132.19 |
| Daily Pivot Point S3 | 131.04 |
| Daily Pivot Point R1 | 137.47 |
| Daily Pivot Point R2 | 138.62 |
| Daily Pivot Point R3 | 140.68 |
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