The USDJPY is set to finish the week with losses of more than 5%. (Pivot Orderbook analysis)
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- The USDJPY is set to finish the week with losses of more than 5%.
- From a daily chart perspective, the USDJPY is neutral-to-downward biased if the major stays below the 100-day EMA.
The pair currently trades last at 138.55.
The previous day high was 146.59 while the previous day low was 141.2. The daily 38.2% Fib levels comes at 143.26, expected to provide resistance. Similarly, the daily 61.8% fib level is at 144.53, expected to provide resistance.
The USDJPY extended its free fall and plummeted another 200 plus pips on Friday, below the 100-day Exponential Moving Average (EMA) at 140.76. Speculations that the Federal Reserve might slow the pace of rate hikes and US Treasury yields falling are the two main factors weighing on the US Dollar (USD). Therefore, the USDJPY is trading at 138.54, below its opening price by 1.73%.
The USDJPY portrays that Thursday’s price action broke a one-month-old upslope support trendline, exacerbating a fall toward the 100-day EMA at 140.74. On Friday, the USDJPY hit a daily high at around 142.50 before diving sharply, as buyers failed to clear the September 22 swing low at 140.34, which shifted the pair’s bias from neutral to neutral downwards. The Relative Strength Index (RSI) tumbled toward the bearish territory, entering oversold conditions.
Even though the USDJPY cleared key support levels, a break of the 200-day EMA is needed so that Japanese Yen (JPY) buyers could be in charge. Otherwise, the USDJPY might be subject to buying pressure.
Therefore, the USDJPY first support would be the 138.00 figure. Break below will expose the 137.50 psychological level, followed buy a six-month-old upslope trendline that passes around 136.50, ahead of the 136.00 mark.
On the flip side, the USDJPY’s first resistance would be the July 14 daily high at 139.38, followed by the psychological 140.00, ahead of the 100-day EMA.
Technical Levels: Supports and Resistances
EURUSD currently trading at 138.55 at the time of writing. Pair opened at 141.23 and is trading with a change of -1.9 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 138.55 |
| 1 | Today Daily Change | -2.68 |
| 2 | Today Daily Change % | -1.90 |
| 3 | Today daily open | 141.23 |
The pair is trading below its 20 Daily moving average @ 147.57, below its 50 Daily moving average @ 145.42 , below its 100 Daily moving average @ 140.73 and above its 200 Daily moving average @ 132.62
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 147.57 |
| 1 | Daily SMA50 | 145.42 |
| 2 | Daily SMA100 | 140.73 |
| 3 | Daily SMA200 | 132.62 |
The previous day high was 146.59 while the previous day low was 141.2. The daily 38.2% Fib levels comes at 143.26, expected to provide resistance. Similarly, the daily 61.8% fib level is at 144.53, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 139.42, 137.62, 134.03
- Pivot resistance is noted at 144.81, 148.39, 150.2
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 146.59 |
| Previous Daily Low | 141.20 |
| Previous Weekly High | 148.85 |
| Previous Weekly Low | 145.67 |
| Previous Monthly High | 151.94 |
| Previous Monthly Low | 143.53 |
| Daily Fibonacci 38.2% | 143.26 |
| Daily Fibonacci 61.8% | 144.53 |
| Daily Pivot Point S1 | 139.42 |
| Daily Pivot Point S2 | 137.62 |
| Daily Pivot Point S3 | 134.03 |
| Daily Pivot Point R1 | 144.81 |
| Daily Pivot Point R2 | 148.39 |
| Daily Pivot Point R3 | 150.20 |
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