#USDJPY @ 142.121 recovered the 142.00 psychological level as buyers piled around the 140.00 figure. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• USD/JPY recovered the 142.00 psychological level as buyers piled around the 140.00 figure.
• If the USD/JPY clears 143.00, a rally to the 50-day EMA is on the cards.
• USD/JPY Price Analysis: Upward biased, though buyers lack momentum, as shown by the RSI.

The pair currently trades last at 142.121.

The previous day high was 140.5 while the previous day low was 139.64. The daily 38.2% Fib levels comes at 140.17, expected to provide support. Similarly, the daily 61.8% fib level is at 139.97, expected to provide support.

The USD/JPY bounces from below the 100-day Exponential Moving Average (EMA) and advances sharply above the 142.00 psychological level for the first time after dropping to three-month lows of 137.65 in the last week. Factors like sentiment, a buoyant US Dollar (USD), and reclaiming the 100-day EMA bolstered the USD/JPY. Hence, the USD/JPY is trading at 142.03, above its opening price by 1.21%, after hitting a daily low of 140.15.

The USD/JPY daily chart portrays the pair as neutral-to-upward biased once buyers reclaimed the 100-day EMA. Of note, on its way north, the Relative Strength Index (RSI) aims upwards, accelerating towards the 50-midline, which, once crossed, suggests that buyers are in charge. USD/JPY key resistance levels in the daily chart are November 11, high at 142.48, followed by the psychological 143.00 figure, ahead of the 50-day EMA at 145.07.

On the other hand, the USD/JPY first support would be the 142.00 mark. A breach of the latter will expose the 100-day EMA at 141.01, followed by September 22 swing low at 140.34, ahead for the MTD low of 137.65.

Technical Levels: Supports and Resistances

USDJPY currently trading at 142.12 at the time of writing. Pair opened at 140.4 and is trading with a change of 1.23 % .

The pair is trading below its 20 Daily moving average @ 144.71, below its 50 Daily moving average @ 145.09 , above its 100 Daily moving average @ 140.96 and above its 200 Daily moving average @ 133.34

The previous day high was 140.5 while the previous day low was 139.64. The daily 38.2% Fib levels comes at 140.17, expected to provide support. Similarly, the daily 61.8% fib level is at 139.97, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 139.86, 139.31, 138.99
• Pivot resistance is noted at 140.72, 141.04, 141.58

[/s2If]
Join Our Telegram Group