#USDJPY @ 145.827 marches steadily to re-test the 145.90 YTD high amidst Japanese authorities’ expressions about the FX markets. (Pivot Orderbook analysis)
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- USD/JPY marches steadily to re-test the 145.90 YTD high amidst Japanese authorities’ expressions about the FX markets.
- Short term, the USD/JPY is range-boun, though intervention fears keep long traders cautious.
- If the USD/JPY tumbles below 145.30, a fall toward 145.00 is on the cards.
The pair currently trades last at 145.827.
The previous day high was 145.8 while the previous day low was 145.24. The daily 38.2% Fib levels comes at 145.59, expected to provide support. Similarly, the daily 61.8% fib level is at 145.45, expected to provide support.
The USD/JPY is trading at around the line on the sand imposed by the Bank of Japan (BoJ) intervention in the FX markets on September 22, when the central bank decided to propel the Japanese yen, putting a lid on the USD/JPY rise. At the time of writing, the USD/JPY is trading at 145.81, below its opening price by 0.04%.
From a daily chart perspective, the USD/JPY advances steadily, without the strength that spurred the uptrend when the major dipped towards 130.00 before challenging the 145.00 mark. Due to last month’s FX central bank intervention, buyers remain cautious around the 145.00-146.00 area, refraining from opening fresh longs against the backdrop of the Boj’s stepping into the markets.
The USD/JPY, one-hour time frame, illustrates the pair is range-bound, within the 145.30-90 area, shy of the YTD high of 145.99, which, once touched, sparked the BoJ’s intervention. So a break above 146.00 could open the door for further gains. The first resistance would be the R2 and R3 daily pivot points, each at 146.20 and 146.50, respectively, ahead of the 147.00 mark.
Nevertheless, given the recent BoJ’s intervention around the 146.00 area, the path of least resistance is downwards. Hence, the USD/JPY first support would be the 20-EMA at 145.70, followed by the 50-EMA at 145.62, which, once cleared, could pave the way toward the weekly low of 145.23.
Technical Levels: Supports and Resistances
USDJPY currently trading at 145.82 at the time of writing. Pair opened at 145.7 and is trading with a change of 0.08 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 145.82 |
| 1 | Today Daily Change | 0.12 |
| 2 | Today Daily Change % | 0.08 |
| 3 | Today daily open | 145.70 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 144.15, 50 SMA 140.04, 100 SMA @ 137.19 and 200 SMA @ 128.87.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 144.15 |
| 1 | Daily SMA50 | 140.04 |
| 2 | Daily SMA100 | 137.19 |
| 3 | Daily SMA200 | 128.87 |
The previous day high was 145.8 while the previous day low was 145.24. The daily 38.2% Fib levels comes at 145.59, expected to provide support. Similarly, the daily 61.8% fib level is at 145.45, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 145.36, 145.01, 144.79
- Pivot resistance is noted at 145.92, 146.15, 146.49
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 145.80 |
| Previous Daily Low | 145.24 |
| Previous Weekly High | 145.44 |
| Previous Weekly Low | 143.53 |
| Previous Monthly High | 145.90 |
| Previous Monthly Low | 138.78 |
| Daily Fibonacci 38.2% | 145.59 |
| Daily Fibonacci 61.8% | 145.45 |
| Daily Pivot Point S1 | 145.36 |
| Daily Pivot Point S2 | 145.01 |
| Daily Pivot Point S3 | 144.79 |
| Daily Pivot Point R1 | 145.92 |
| Daily Pivot Point R2 | 146.15 |
| Daily Pivot Point R3 | 146.49 |
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